The Terrorist Attack: Consequences
September 11th, like few other dates in the history of our country, will be permanently engraved in all American's memories. Even though the events of this tragic day are behind us, the economy is still feeling the burden of the terrorist attack on the World Trade Center and the Pentagon. The economy was already experiencing a fall off before the attack. Despite the struggling times, Wall Street analysts believed that with the six federal rate cuts, the United States economy could avoid recession. Then came September 11th an attack that shocked the nation. Never had an attack been made on United States mainland soil. Two United and two American Airline airplanes were hijacked by terrorists and flown into targets in America. There were at least four to five hijackers on each plane. They were armed with knives, and having at least one person among them capable of piloting the plane. The hijackers took over the planes, got rid of the pilots, and directed the planes on suicide missions. Two planes crashed into the World Trade Center's Twin Towers in New York City, another into the Pentagon in Washington DC and a fourth in Pennsylvania. The result of the attack, the Twin Towers collapsed, part of the Pentagon was crush
Trade costs may increase reducing trade and the money made from trading. Without an international effort to counter terrorism, there will be increasing pressure to slow down commerce, further regulate the movement of people and money, and tighten controls on what moves into and out of the United States and other countries. Despite the shock, long-term devastation in the world's financial center, the U. The terrorist attacks of September 11th sent the United States economy spiraling into recession. Also, it is likely that there will be an increase in the price of hotel rooms, restaurants, and other tourist-related businesses. Banks and other financial intuitions stayed open. Post 1) Along with the attack of 9-11, has caused increases in unemployment. There are many different beliefs on how exactly the attacks will effect the economy. The attack was part of a jihad, or holy war by the Muslims in the Middle East against America. Tens-of-thousands of people have lost their jobs because of the decline in the economy. Commerce said the drops were the largest since the government began compiling retail data in its current form in February 1992". (USA Today 2) America is the strongest country in the world and will not let a terrorist attack stop our progress.
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