What vast destruction? We suffer through natural disasters 100 times worse than 9/11 (property loss, not life) and do just fine. Any economic problems that we are having now weren't caused by 9/11.
The war on terrorism or the upcoming one with Iraq is just a distraction. It will take the publics mind off the economy and provide political cover for the ruling class. Otherwise, someone just may try to hang them. You know how unfashionable and UNPATRIOTIC it is to criticise the government while the country is at war. As I have been saying, listen to the drumbeats of war. The louder the beat, the more bad economic news we can expect.
Richard W.
Richard W.
On he 9/11 destruction, you should go to the Milken Institute web site. Some months ago their economists did a study of the economic cost of 9/11. Go to www.milken-institute.org or www.milken_institute.org (I can't remember which) and look for an article called "The Butcher's Bill." It not only was INITIALLY staggering, but it pushed the already fragile (and admittedly badly-priced) airlines over the edge; that, in turn, further damaged tourism. Look at Disney---the THEME PARK division, which has always been a money maker, announced losses this year. This is almost directly due to 9/11. We were in Vegas a month or so ago---9/11 shut down the entire strip for days, and shut down NY NY hotel for a WEEK due to a similar bomb scare. The people there told me that just THEN (May) they were back to 80-90% of where they were Sept. 10. So you can't tell me that wasn't HUGE. Then throw in the addition burdens of the fed. deficit and all that that implies---I know, it was going to be in deficit anywhy, but nothing like that. So I think 9/11 hurt more than anyone knows.