Economic impact of WTC attacks Essays -- essays papers

Economic impact of twin towers attacksTerrorism is an increasing worldwide threat that was illustrated by the recent attacks on the creation Trade Center buildings in New York. It was a exceedingly organized attack and investigations pitch shown that besides the United States, planning alike took place in different countries of Europe and Asia. These attacks are set to touch far much people than the American brass it was intended to harm. everyplace five thousand people are believed to have died as a direct result of the attacks and m either more deaths are expected referable to the various consequences of this tragedy. In this essay I shall attempt to cover the far-reaching consequences of this terrorist attack, charge mainly on the cultural, social and economic aspects.I shall begin by covering the economic consequences that in my opinion far outweigh any of the others. In the wake of the September 11 attacks close to 250,000 job cuts have been announced, and a nine-year record high of unemployment claims have been reported in America. This repress could have been even higher had it non been for the luxury of variable counterbalance . By well-nigh estimates cuts in variable pay saved some 1.4 million jobs , that is 1 share of the on the job(p) population of America. Another charter has found that these cutbacks will result in as much as a $30 billion write down in income for the first buns of 2002 . This in turn will likely lead to a drop-off in consumer spending that would have an adverse effect on the American economy. According to the Commerce Department retail sales fell 2.4 percent in September, much to the shock of Economists who did not expect a drop of this magnitude. Equally surprising to them is the apparent change in consumer attitude in October, which has shown an increased willingness to spend money and has reduced pressure on the economy. out from the above-mentioned costs of the attacks there is to a fault the cost of renov ating the damaged areas of the pentagon which is estimated at between $700 and $800 million. The collapse of the World Trade Center towers caused damage to skirt buildings and the developer who leases the site has plans to rebuild the towers which will be an extremely expensive endeavor. The government of the United States has also promised compensation for the victims and their families in return for not suing the federal official government or the airlines. Some peop... ...ed political or patriotic messages. Johnnie Hargis who had been working in the library for 22 years said he had neer heard of the policy and that he was the single one punished. In conclusion, although a tragic event, the overreaction of many people has only worsened the situation. In a time when people should join together to fight ignorance and be more understanding of different cultures a handful of people are only making things worse by their warped sense of justice. It is the year 2001, anti-Muslim th eory in the west and anti-American sentiment in the Muslim solid ground should not be tolerated if we are to be a true global community. BibliographyDaniel Eisenberg Paying To Keep Your Job Time magazine October 15, 2001 Vol. 158 No. 17.Geoff Hiscock World Bank warns of poverty, child deaths www.cnn.com October 2, 2001.Federal deal ensures victims compensation www.cnn.com September 24, 2001. Lisa Barron global airlines losses could top $10 billion www.cnn.com October 9, 2001. This research paper also includes some information from various other articles at CNN.com that although helpful were not significant in the composition of this assignment.