The Micro Economic Inflation in USA After 9 11
A thousand and over death cases are subsequently reported after terrorist attacks and thousands more injuries. This an indication of loss in human labour; additionally, destruction of properties and business area where liquidity flows, a realisation of loss of employment becomes paramount. ATTACK On the date 11th in the month of September in the year 2001, a group of nineteen terrorist presumably from Al- Qaeda attacked the United States of America leaving the citizens of this nation in complete despair. This attack has sabotaged THE USA economy till date as the impacts of the war is still very viable due to the war on strategy on terror laid by President Bush. The attack took place at the Boston’s Logan airport that is situated in the New York City.
At exactly 9:58 am in the morning, the 1st world trade tower came crumbling down. Another tower which was located to the north, came crumbling down after another plane crashed on it at exactly 10:32 am. These two towers were commonly known as the twin towers of New York City, the towers where the heart of the nation lied on as they were the economic stronghold towers. The Pentagon The Pentagon building or rather tower in Virginia was hit by the third aircraft and it crashed at exactly 9. am. in the morning, the manager in charge of the FAA decided to shut down all the airports which were located in the New York City. This was to ensure that no pending attack can be made possible as no plane was allowed to leave the airport nor to land on the airports.
Press conference A press conference was made by the sitting president George Bush at 9:30 a. m. in regards to the terrorist attack and urged the citizens to compose themselves as they are working on it. Total count in the world trade centre A total of two thousand, seven hundred and sixty three deaths were reported after the twin towers crumbled down after the aircrafts crashed on them. Three hundred and forty three fire-fighters who had come to rescue the situation inclusive of paramedics varnished in the fire, twenty three police officers, and thirty seven authority police from the port all died in the effort of saving the people who had been trapped inside the towers. The rest of the numbers who died were the workers of the world trade centres and probably the customers who had checked in that day.
Total count in the pentagon A total of one hundred and eighty nine civilians died in the pentagon attack, sixty four which were on board in the flight and one hundred and twenty five military officers and citizens were killed. Traumatizing deaths in the 4 planes The flight number 77 killed a total of sixty four people while the flight number 93 which did not reach its target killed a number of forty four people. this was at a market value closing at 8920. Additionally, at 617. that was the point where a great injury was realised and it is recorded the worst Dow that has ever happened in history. However much the recession ended in the mid part of November in the following year, the Dow was still very low for presumably another one year.
US economy There was a drop in almost all the economic stronghold of the country as there was evident decline in airline’s’ stock, tourism as well as insurance firms. which was amicably convincing. All the same the US economy was set and still after the attack would decline in terms of GDP by 0. Labour force in General The labour force sector was highly affected as thousands of death were recorded an indication in the loss of labour. Qualified personnel lost in the tragic collapsing of the towers meant another expense on the training of the new experts. An agonizing situation is the loss of jobs as the trade centre anchored a lot of business opportunities. Not in labour force This the type that are fed consequently because of their age or certain disabilities and is like the government responsibility.
This number increased after the attack as many people were injured which demanded for government funding. Macroeconomics outcome The aftermath of the economy was devastating as almost everything came to a dead bit end as the fiscal monetary flow to an expected sustainable economy or even to the expected growth on the same. Economist after analysis, revelled that whenever there is an aspect that sabotage the economy, the GDP will always contract and the result of this is a feeble economy in comparison to the outright edge (Enders & Sandler, 2006). The part of the economy that suffers and in a way results to all the uncertainties in the economy is the oil supply in relation to its prices. The economic analyst doesn’t only concentrate on the state of the finance but they also do concentrate on the contributing factors to this same finance.
Payback time In the same month after things had calmed down a little bit, the president in reign called upon his military and defence unit to be ready for war as he said that the attackers and the planners of the attack must not go scot free. He said that he and his defence forces will pay back and make sure the AL Qaida group leader is captured and he pays for the damage he had caused the United State of America as well as the whole world who relied on her country. Thus, together with his army, the president flung a war on terror in the Afghanistan whose mission was to capture Osama bin Laden. The bill for the whole mission cost about $30 billion (Looney, 2002).
Their withdrawal from helping and supporting the government resulted into even much debts. This was so mean to an extent that the whole world was in fear that the USA would soon cut itself from the world market. Conclusions and recommendation for improvement and study War and terror are the worst things and they sabotage economy resulting into a lot of setbacks. The government should always be vigilant to ensure security of its people are held high as well as know how to tack its external affairs as well as relationships. References Aimable, E. Resilient city: The economic impact of 9/11. Russell Sage Foundation. Enders, W. Sandler, T. Distribution of transnational terrorism among countries by income class and geography after 9/11. Stein, B.
D. Jaycox, L. H. Collins, R. A. Silver, R. C. Holman, E. A.
From $10 to earn access
Only on Studyloop