The Tragedy Of The United States

1892 Words8 Pages
An unfortunate tragic event occurred in the United States. It happened on September 11th 2001 in New York City. The World Trade Center bombed by terrorists from the Middle East. This was a turning point for the United States and the stock market, especially Wall Street. During the after math of the bombing, Wall Street had decided to close the market completed until New York could recoup from this devastating event. People were frightened, petrified to go out after what just happened in the heart of New York City. This eventually would lead up the Housing Market. A great movie, House of Cards showed how the Housing Market had become a major reason that the economy was improving dramatically and all of the stocks in the stock market were skyrocketing day by day. During the Bush Administration, the president was seeking that all Americans would spend and help fluctuate the market because once the stock market reopen, they became very stagnant from the frightening tragedy that killed many lives. He was hoping that people would go out and spend at all of the big name retail stores (Macy’s, Wal-Mart, JC Penney, etc.) Also, the former chairman of the Federal Reserve Bank, Alan Greenspan was also trying to encourage many Americans to help boost the economy, and the money flow in the United States. He had lowered the interest rate to help Americans become more enticing to spending. All of this started to being in the early 21st century when the Housing Market became a huge cog to
Get Access