Tuesday, May 3, 2011
The Economics of Osama's Death
For grade on 6 May 2011. Was Bin Laden successful in his attempt to destroy the US economy? What changes were made to the US economy because of the 9/11 attack??
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No, Bin Laden was not successful in his attempt to destroy the US economy, sure a couple companies suffered for a while from the devastation, but overall the economy stood up(from Bin Laden). The attacks fueled higher spending on the corporate level and gas prices are surely on the rise.
ReplyDeleteI think Bin Laden was successful in hurting the U.S. economy. After the 9/11 attack, the American economy declined and worsened. Furthermore, the attack on the World Trade center hiked up gas prices due to the tension with the Middle East. Moreover, the U.S. government had to compensate for all the lives lost on 9/11. This also took a toll on the American economy.
ReplyDeleteBin Laden wasn't ever truly successful in damaging the U.S. Economy. We have come back from worse. He has only reminded us the danger of putting all our eggs in one basket. Bin Laden did not destroy the economy, this was faulty banks loans and a housing bubble. While Bin Laden was a mass murdering psychopath he was not responsible for our own economic follies.
ReplyDeleteI would say bin Laden was able to do a pretty thorough job of wrecking the U.S. economy before his eventual demise, but that such a collapse was inevitable regardless of his actions. Bin Laden and his pet terrorist organization merely acted as a catalyst, providing a major money sink for the U.S. government and inducing economic indigestion as the massive increase in government spending shocked the domestic consumer system.
ReplyDeleteAlthough Bin Laden did damage the U.S. economy to an extent, he did not succeed in obliterating it. The economy held together even through the worst parts of the recession. For instance, one of his effects included a reduction in revenue for the tourism industry; due to the fear in people of traveling abroad and fluctuating gas/ticket prices. The toursim industry has gradually bounced back from this slump.
ReplyDeleteBin Laden played a major role in inflicting heavy damages on the U.S economy but he definitely was not successful in wrecking it. U.S economy is wreck but it was because the banks were giving out loans for unqualified people and housing mortgages and instead of solving that problem first, the government spent trillions of dollars on national defense and going to war in Iraq and any place else that has oil reserves. The recession would have happened regardless of what Bin Laden and his terrorist organizations do. They merely speed things along.
ReplyDeleteBin Laden's death did not hurt the U.S. economy at all. In fact, I might even argue that his demise helped the economy. This event must have certainly increased consumer confidence. The 9/11 attack drastically hurt the economy. The US governnent had to rebuild infrastructure and convince the world that America was safe.
ReplyDeleteDestroy the U.S. economy is such a strong phrase. Bin Laden merely scratched it, like a child skinning his knee. He made us spend more money on defense and got us to fund a war but he didn't destroy the U.S. economy. It was hurt but it came back strong. His death helped our world image more than his bombing hurt us. Thats what I think
ReplyDeleteTo an extent I think Bin Laden was successful because of the devastating effects to the economy after 9/11. However, our economy is far from being destroyed. The stock market took a big blow from 9/11 but most households did not notice a large change in the economy after 9/11. That may have been partially due to the shock of the attack itself.
ReplyDeleteI don't believe Bin Laden was able to destroy the economy, I do believe he had a huge impact on it. After 9/11 Americans became afraid of travel, they didn't want to invest because of the devastation that happened in New York. Only a few household were even greatly effected by the decline in the stock market. The national bank in New York was helped by the other banks around the country. He was able to have our country spend massive amounts of money on war however, which I feel is more of an effect anything and that wasn't something he directly did.
ReplyDeleteI think to say that Bin Laden "destroyed" the US economy would be false. He did impact the economy quite strongly in a negative aspect, but it did not crumble down entirely. Immediate changes made to the US economy were a rise in gas prices and an increase in funding for national defense. Investment probably slowed down drastically and airlines suffered immensely for a period of time.
ReplyDeleteI think that Bin Laden failed in destroying the United States economy because although our country stumbled a little after the 9/11 attack, we got right back up. Our security in the U.S. became more strict and we now invest more in the country's defense. Also, gas prices increased dramatically in the United States.
ReplyDeleteBin Laden most certainly did not succeed in destroying the economy of the U.S. Regardless of the changes we have experienced in inflation and the amount of our budget that was put into defense due to 9/11, we are slowly but surely recovering. The Bin Laden incident was but a phase and we are in the process of overcoming it.
ReplyDeleteThe economy's no good and stuff but it's not all because of him. We would have gone into a depression regardless. He did cost us a lottttt of money, though. Two wars, all for himmmmm. And he scared a lot of people out of riding planes. Sure they suffered bunches. And now airports are all annoying. Yeah, he definitely had a pretty drastic effect on pretty much everything, whether it was intentional or not.
ReplyDeleteActually, what is interesting is al-Qaeda's strategy to the year 2020. Part of their plan is pulling us into several foreign conflicts, straining our economy past the breaking point. One heck of a plan, I know. So far, we are playing into their hands, and the result can partly be seen in our economy. If we pulled out of every economy, set up an incredible defense system and just cut the defense budget, it would be a lot easier to get out of this so-called "crisis".
ReplyDeleteOsama wasn't successful, but he did make his footprint on our economy.
Sure our consumer confidence was knocked down by 9/11 and the war on terror and this entire situation from the attacks to the hunt and war is stupid, but we are working on getting our economy back up again therefore we were never completely destroyed. Plus so far there has been no such thing as world peace so to what extent is this a surprise? If we weren't spending all this money against the al Queda would we have spent it in the african wars/protests? Probably. Therefore, did Bin Laden destroy us? No. We as a country are adaptable. We have fiscal policy to adapt our economy to the changing world events like the government using fiscal to spend on the war in the middle east after 9/11. Are we proud of this war? Most likely not, many americans don't think of it on a daily basis, but that doesn't change the policy placed by the US government.
ReplyDeleteBin Laden was not successful. The economy was already declining prior to 9/11. However, Our country's consumer confidence was heavily affected by the 9/11 attack which increased the speed of the recession. Our economy is slowly increasing and American is not a third world country. Therefore, he failed in destroying our economy and only put a minor dent.
ReplyDeleteBin Laden did not "destroy" our economy. Sure we took a hit, but we have damaged our own economy single-handedly many times with much greater force. Did he kill the stock market for a little while? Sure. Did he scare a lot of people and cause chaos? Of course. But "destroy" the economy? No way. We would have found another place to send troops to and cause problems if it wasnt the middle east. He was like a mosquito for the US economy, he was an irritant that caused a little damage, but we are too powerful and too large to let one nasty bug be our demise.
ReplyDeletebin laden was not successful in his attempt to destroy the us economy. sure he caused a worldwide panic and companies lost a large amount of profit in the short run however in the long run those companies have erased that loss and then some. osama tried and failed because our economy is on the rebound.
ReplyDeleteBin Landen's attempt to destroy the U.S. economy was somewhat successful. After the 9/11 attack several companies experiences hefty loses and not to mention the insane rise in the gas prices due to the tension from the middle east. Though America has been able to slowly recover from this tragic event, it did cost a lot of lives and money in order to do so.
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