0
The Wall Street Journal and Washington Post both predict in their Sept. 12 news columns that the havoc wrought by yesterday's events may bring on a recession. Chatterbox thinks they couldn't have it more wrong. While the destruction of the World Trade Center, the multiple plane crashes, and the damage to the Pentagon are morally obscene because of the (probably thousands) of deaths and countless injuries they caused, economically the net result of the terrorists' actions is likely to be beneficial to the United States.
"The U.S. economy will go into a recession as a result of the terrorist attack," Sung Won San, chief economist for Wells Fargo & Co., told the Post's John M. Berry and Steven Pearlstein. Why? Consumer confidence will tumble. But what does anxiety about a terrible but decidedly non-monetary tragedy have to do with consumer confidence? In the Journal, Greg Ip and John D. McKinnon explain that by causing an oil spike, the Gulf War depressed consumer confidence and eventually helped cause a recession. Yesterday's oil prices did indeed spike, and "as political tensions rise again in the Mideast" we may see oil prices stay high for some time.
--Timothy Noah--
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Why the recession in us economy affecting the world economy?
many events
What is a issue that the US is currently addressing?
It's economy, terrorism, and Immigration... just to name a few.
What are the three problems that Obama thinks the US has?
Economy, Regain Stature of US in World as leader and example of free democracy, Terrorism
Why the recessien in the us economy affecting world economy?
The U.S. is a prominant figure in the world economy. Many countries trade with the U.S. When people are buying less in a recession in the U.S., countries that trade with us have less business and their economy slows down with ours.
How is the war against terrorists today affecting the US economy?
le en Tia enda miat do nein
What acts of terrorism has the US faced?
government self inflicted terrorism
Does the US support terrorism?
no
What factors played a role in America's economic stagnation?
Trade deficit, rising oil prices, declining value of the US dollar, and the war on terrorism are all factors of the economy.
Who are often the first line of defense against terrorism in the US and other nations?
Counter-terrorism Intelligence is often the first line of defense against terrorism in the US and other nations.
Who is the US fighting against in the war on terrorism?
The war on terrorism is fought against Muslim militants.
What is the US doing about terrorism?
The US is doing various things about terrorism. For example, the National Security Agency is spying on many internet users.
Who is the us trying to overcome terrorism with?
All of the NATO countries are trying to overcome terrorism. Some like Britain and Holland have been fighting it since WW2. The US is a newcomer in the war against terrorism worldwide
