How Does 9/11 Affect The Economy

This only deteriorated as businesses would suffer financially and unemployment was at an all the time high. Although President Franklin D. Roosevelt came up with tactics and strategies to lessen the effects of the damage done, the economy wouldn’t fully overcome until after 1939 as World War II shifted America. For a little over a decade, businesses would go through financial turmoil and people would have to find other ways to bring in revenue. During the late summer of the 1929, the American economy entered into a recession. According to the Merriam-Webster Dictionary, a recession is defined as a period of reduced economic activity. Investors had traded some 16 million shares on the New York Stock Exchange in a single day. That day in history was formally known as “Black Tuesday”. Those same shares had ended up being worthless with no monetary value. The investors who bought them with borrowed money, suffered an excessive lost. Consumer reliability was gone as spending was nonexistent which resulted in factories being closed down. The lack of consumerism also impacted those who had invested in mass production. The consumers who still felt a need to spend, were forced to use credit cards and evidently fell into major debt; foreclosures on homes and repossessions climbed rapidly as people tried their best to live again and have that

September 11. 2001 was a major turning point in American History, and its political and social impact can still be felt today. The tragic event shook the entire country on the civilian and federal level. Before 9/11 many did not think that a plan of terrorism such as that of Osama Bin Laden's would be able to come to fruition because they had great trust in American security. The destruction came as a wakeup call to the federal government and American citizens themselves. National Security became the first thing people thought of when they traveled, and civilians looked to the government for reassurance that they were safe. The federal government's plan of action was to pass a series of acts that would go on to create the Department of Homeland Security and Transportation Security Association. Along with the creation of more strict security measures came the question of "who is a terrorist?" within the country. The formation of the DHS, TSA, and increase of Islamophobia are some examples of the lasting effects that 9/11 had on the country.

While 9/11 was a very important moment in the lives of many Americans, not many realize the direct impact this tragedy has had on their lives, and their country. For one, 9/11 greatly changed America’s involvement in wars. It also completely changed the way airport security works in America. Finally, 9/11 caused the American government to begin collecting significantly more data from its citizens, something which has been quite unpopular with the American populace. No matter how you look at it, 9/11 has left a permanent mark on America.

The epic boom ended in a catastrophic bust. On Black Monday, October 28, 1929, the Dow (stock market index) declined by nearly 13 percent. On the following day, Black Tuesday, the market dropped nearly 12 percent. By mid-November, the Dow had lost almost half of its value. The slide continued through the summer of 1932, when the Dow closed at 41.22, its lowest value of the twentieth century, 89 percent below its peak. The Dow did not return to its pre-crash heights until November 1954. In the end, the stock market lost $30 billion in market value which would be equivalent to about $396 billion today. That is more than the total cost of World War I. The crash was the worst in U.S. history. It destroyed not only the confidence in Wall Street markets but it also undeniably led to the Great

of 9/11. Also, you 'll learn of the secondary economic impacts of terrorism which include effects on

By the time the NYSE closed, a record of 16,410,030 shares had been traded in one day. The average prices of fifty leading stocks had dropped 40 points a share. This meant that an investor who had bought a stock for $100 a share could only get $60 a share for it. (Feinburg B. Black Tuesday) By 1933, when the Great Depression reached its nadir, some 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed. Though the relief and reform measures put into place by Roosevelt helped lessen the worst effects of the Great Depression in the 1930s, the economy would not fully turn around until after 1939, when World War II kicked American industry into high gear. The American economy entered an ordinary recession during the summer of 1929, as consumer spending dropped and unsold goods began to pile up, slowing production. At the same time, stock prices continued to rise, and by the fall of that year had reached levels that could not be justified by anticipated future earnings. As consumer confidence vanished in the wake of the stock market crash, the downturn in spending and investment led factories and other businesses to slow down production and construction and begin firing their workers. For those who were lucky enough to remain

911 startled America in 2001, the Dow Jones rapidly declined from 11,500 to 8000 and NASDAQ from 5000 to 3,800. In 2002/03 the dot com bubble hit dragging the Dow to about 5000 and the Nasdaq to about 2,500.

Regarding the Economic situation after 9/11, it was not healthy in the days after 9/11. The attacks essentially froze the economy due to the closing of the New York Stock Exchange, which only happened on two other occasions in U.S history and the grounding of flights around the U.S.The attacks only multiplied the economic troubles that airline companies were going through at the time , many companies went bankrupt or were on the verge of bankruptcy. Tourism in New York City dropped to an all time low for good reason, thousands of hotel employees were laid off and of course airline companies laid off workers all due to the extreme increase in the fear of flying following the attacks. In Lower Manhattan, where the attacks took place, over 18,000 small businesses were destroyed or displaced due to the attacks. The attacks also caused a huge amount of money to funnel into new programs put in place and two wars sprung up from this event. Even though the economic effects of that 9/11 caused were short-lived, Ultimately the attacks resulted in being one of the largest insured events

After over 10 years, the United States still mourns the people who died September 11, 2001. The enormous loss of Human lives and the help they would have been and made to the world. The results form the inquiry made by 9/11 Commission and the actions of the people of the United States. From the 9/11 tragedy at the World Trade Center has became known as Ground Zero. Every seven structures that were part of the complex got destroyed or either damaged and also other buildings. Inside the World Trade Center 2,606 people died, 371 were passengers and crew that were apart of The American 11 and United 175 flight. 125 people died at the Pentagon when American 77 crashed into the building, killing the 59 innocent victims on the flight. 40 people died as they turned on the attackers that was on flight United 93 and that prevented it from hitting its target. On September 11, 2011, the 9/11 memorial opened and they named it National September 11 Memorial & Museum. The Memorial is located in New York city which commemorating the 9/11 attacks that killed 2,977 people. The memorial site seats on about half of the 16-acre site that was formerly known as The World Trade Center complex. The memorial has two gigantic waterfalls and reflecting pools, which both are about an

The 9/11 attacks triggered the intensification of the 2001 Recession (Amadeo). This was one of America's worst economic downfalls. As a result of the attacks, "the economic costs were estimated to be nearly $100 billion", according to the NYC Comptroller William C. Thompson, Jr. (Brooks). New York City's cost alone made up a huge part of the debt. It totaled between $83 billion and $95 billion (Brooks). One of the main factors from this huge amount of financial obligations was the city's infrastructure. It cost $21.8 billion to restore buildings that were ruined and demolished, various other organizational structures and facilities, and other renters' belongings (Brooks). The attacks also caused the 2008 financial crisis. This fiasco resulted

The United States entered “The Great Recession” in December of 2007. Its impact was felt by nations all around the world. This event triggered the loss of 8.8 million jobs around the country and created a sense of economic instability. I’m very interested in finance and stocks, so this provided an incentive to be careful with my purchases and investments

four airlines and carried out suicide attacks against the United States buildings. 2,996 people were killed and more than 6,000 other were injured. 9/11 was the biggest influence on the United States. The attacks on 9/11 toward the buildings, there has been changes in airports and the immigration system. There has been domestic spying on the citizens of United States, people were changing their trust in the government, and the ongoing wars.

September 11, 2001 affected everyone even today’s newer generations by bringing terror to all. Also by rules such as no outside liquids in airports. It affected the people who lost their loved ones, some today might not have a father or a mother. It affected the Afghanistan and Iraq’s people by the killings of those who were innocent and had nothing to do with the war yet had to live in such conditions, losing loved ones, being afraid, being afraid of leaving their own homes because they might be ‘accidently’ killed. This is how people were and are affected because of September

On September 11, 2001 terrorists crashed into the the Twin Towers killing, thousands of people. Each year people reflect back on that day and constantly worry about another attack; people are always intrigued by the stories and documentaries that people hear about on T.V. Trust is firm belief in the reliability, truth, ability, or strength of someone(dictionary.com). All people can do is to trust in the government to make good decisions to make the U.S safe and secure. The 9/11 attack changed people forever, people lost family members and jobs. “If we learn nothing else from this tragedy, we learn that life is short and there is no time for hate(heavy.com).” 9/11 had a major impact on U.S. society because it engaged the U.S. society

To get a better idea of what the recession was like for America before the 9/11 attacks, it is important to note the numbers that designated the overall market. Most people are in the belief that America fell into a recession after the 9/11 attacks, but in reality it did not officially start until March 2001. At that time, the economy experienced a roller coaster effect; in the third quarter the economy experienced a contraction of