Did The Terrorist achieve their goals???
When the terrorist bombed the world trade center part of their goals was to cripple our economy. So to help prevent that the Fed's cut rates to help keep the economy going. Banks loosened thier lending standards (even lending with no docs).
We have spent, I think Trillions of dollars on a war because of 9/11
Fast forward to today...our economy is in big trouble from what started in 9/11
if anybody is ever in front of the comp and has some time take a look at this. this is really realy interesting. give it a few minutes first though. they set up what they actually talk about with some old info
im not saying its true but its very interesing. give it a watch
I don't think it's because of 9/11. Back in the 90's legislation was passed that required banks to give "affordable" loans to people that couldn't afford them. The banks had quotas to meet. If they didn't, they were sued and/or hit with fines. There has been terrible regulation over all of this. You can spread the blame around to a lot of places. While I don't think 9/11 is one of the major causes, it probably has influenced the state of the economy somewhat today. It's the nature of the beast...the economy can't be strong all of the time. I think that we would be in this same boat right now or in the near future if 9/11 had never happened.
In fact, the war in Iraq, which has absolutely nothing to do with 9/11, is more to blame than 9/11 for the current state of our economy. Ugh, that's a topic that should leave a sour taste in anyone's mouth.
There's a lot of economic troubles outside of the U.S. right now too. Apparently Iceland, as a country, has declared a bakruptcy of sorts. I haven't read much about that, but basically they're a bit worse off than us.
I DO believe that 9/11 has had a residual impact on the American economy. But the most recent things going on in the States, like the sudden drop in the market (again) I don't think can be attributed entirely to that. But time will tell if things will bounce back like they should.
But yeah, IMO, things haven't been near the same since 9/11.
Most of the recent economic troubles outside of the US are happening because of the problems here. Global market... I feel bad for the other countries that we're messing up.
whats going on right now started long before 9/11, Carter passing the CRA started a domino effect.
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