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Cause Of 9/11 Recession In The United States

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n our world there have been many recessions. Well what is a recession? A recession is a substantial and general decline in overall business activity over a significant period of time. It is different from gross national product(GNP) because is does not include the value of all final output produced by U.S companies. The recession in 2001 had a big impact on our economy in the U.S. As an economic effect of 9/11, the stock markets closed for four trading days. The unemployment rate went up 5.5%. When the planes hit the twin towers, the interest rates were already low at 3.5%. A couple weeks later, the feds cut them to 2.5%. The biggest impact was the rebuilding of what was destroyed. The World Trade Center buildings that were flown into but not rebuilt, the Pentagon, and the 30,000 people that were killed in the attack. Those are just some economic effects, but there are many more economic causes of the 9/11 recession in 2001. …show more content…

The unemployment rate was a lagging indicator of economic activity. The 2001 recession differed from other recent recessions for many reasons. There were many leading indicators, telling economists that this recession was going to happen. They included stock prices, unemployment, housing starts, orders for new capital equipment, and many more. All of these lead us into the 2001 recession, but none predicted the harsh economic slowdown. The coincident indicator during the recession was at 50%, it shows a dip at the start of the recessions and then signals an expansion about a year after the end of the recession. The total sales during that period increased, and business activity

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The market had lost over $30 billion in the span of two days which included $14 billion on October 29 alone setting in motion one of the most devastating periods in the history of the United States. The stock market crash crippled the American economy because not only had individual investors put their money into stocks, so did businesses. When the stock market crashed, businesses lost their money. Consumers also lost their money because many banks had invested their money without their permission or knowledge. People were buying stocks in anticipation of rising share prices.

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Throughout the many years of the Great Depression, the American economy plummeted greatly because of ongoing issues throughout the United States. The American market, and essentially continuously buying, are what keeps an economy in any country moving. The points at issue which allowed the economy to go down consist of three major factors. All three of these aspects took a great amount of citizens down along with all of their profits. Families, businesses, and employees struggled to stay standing during this time period.

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American’s enjoyed a pro-longed period of prosperity from World War II until the late 1960’s, which was built largely upon the power of American industrial production had run out of steam by the 1970s. The influx of spending on the Vietnam War also contributed to this demise of revenue. The economy began to become less and less powerful and adopted a new multitude of challenges which led the economy to go into a recession. A recession is a period of temporary economic decline during which trade and industrial activity are reduced. However, Ronald Reagan announced a recipe to attempt to fix the nation's economic troubles.

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In Document C, a bar graph displays the cost of 9/11, which totals an estimated $3.28 trillion dollars. 1/2 of the $3.28 trillion spent was used to fund wars in Iraq and Afghanistan and $589 billion was spent on Homeland Security. America's national debt greatly increased post-9/11 and many of the financial decisions made during this time are still controversial to this day. In summary, the effects of the September 11 attacks include increased government spending, increased Islamophobic sentiments, and increased U.S. military presence in foreign nations.

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9/11 Thesis: The lifelong effects of 9/11 are changes in air travel and airport security, changes in tourism numbers, and changes in immigration and deportation. A. One of the major lasting effects 9/11 brought was air travel and airport security. I.

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The huge attack of Iraq on the Twin Towers on September 11, 2001 left an everlasting impact on the US. On this day many fatalities occurred and much sadness fell upon the world. The first plane of terrorist flew into the North Tower, with a couple of minutes between the second plane flew into the South Tower. The effects of this disaster on the United States were many, including the immediate aftermath/roughage, the airlines, the economy, and the ongoing wars.

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The Effects of 9/11 on the United States Around 2,753 people got killed during 9/11. 9/11 is remembered as a day in time (September 11, 2001) when terrorist high-jacked planes and flew them into the Twin Towers in New York City. There are many ways 9/11 has affected our country. Tighter airport security, new firefighting equipment, and a weakened economy are all ways that day in history has affected us in the United States.

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9/11: The Day That Changed America Forever On September 11, 2001, nineteen terrorists boarded four planes, all transcontinental flights full of jet fuel. 9/11 became the first of many hijackings in the United States. The terrorists turned two flights into flying weapons of destruction, knocking down America’s tallest buildings. The third plane rammed into the Pentagon and the fourth plane was crashed into a field in Pennsylvania.

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"Great depression?" they gasped. Consumer confidence plummeted, as did consumer spending (which accounts for a stunning 2/3 of US GDP). Corporations, in a mass panic, swiftly switched into a mode of panicked layoffs and cost cutting. The banks, already spooked, continued to tighten their lending not just to consumers but to corporations and other banks as well. And ditto for the rest of the world.

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There have been a number of effects on the everyday lives of Americans made by the 9/11 attacks on the U.S. First of all, United States troops invaded Afghanistan less than a month after the World Trade Center attacks to release al-Qaeda’s grip on the Middle East. In 2003, the United States troops invaded Iraq, which was not directly related to the attacks but was an important weapon in the War of Terror. The United States stepped their game up in many departments around the country. They upgraded the airport security, had a lockdown on immigration and deportation, and many more things that could ever be a threat to the U.S. and its

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The Great Recession started for the United States in December of 2007 and lasted until June of 2009. This was the worst recession in U.S. History since World War II. During this time, there was a 6.1 % loss in jobs, due the job shortages about 27 million people we either unemployed or underemployed. This affect the age household many people household income dropped increasing the poverty in America. In economics, a recession is a decline in economic activity affecting Gross Domestic Product or GDP for at least two consecutive quarters causing negative economic growth (Downes and Goodman).

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The stock exchange was closed from September 11 and September 17. Roughly 430,000 jobs were lost in New York City. After 9/11, people changed their lives in small ways. Many people simply started spending more time with their families. Others began going to church more often and most began flying the American flag in front of their home.

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It showed that even the most powerful country in the world was subject to attack. This attack exposed the vulnerability of the United States as a nation. The 9/11 attacks changed the country forever; some lost family members, friends, and those who survived are forever hunted by the events of September 11, 2001. The entire country was in pandemonium including my family.

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Recession proof is a term that is used to describe an industry or sector that is believed to be economically unaffected to the arising of economic downturn. In other means, recession-proof industry tends to remain constant demand for their products and sales and even earnings growth in good and bad economic condition (“Investopedia,” n.d.). Vet services Vet services can be categorized as recession-proof industries because most people are passion with pets and they are willing to spend any amount to keep their pets healthy. When economic is tanking, people lost their jobs. Nevertheless, they still spend money on veterinary care to succumb their pets from diseases.

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Gene Therapy, deliberately modifying the characteristics of an organism by manipulating its genetic material. Gene Therapy has been proven to improve people's lives and their health it has saved over 2,000 people through injecting new and genes through vectors. A new gene is injected into an adenovirus vector, which is used to introduce the modified DNA into a human cell. If the treatment is successful, the new gene will make a functional protein. Gene therapy can treat cancer and can be an alternative to other treatments.

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