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So How Goes Bin Laden's War on the U.S. Economy?

Cal

Well-known member
http://www.usnews.com/blogs/capital-commerce/2007/9/11/so-how-goes-bin-ladens-war-on-the-us-economy.html

So How Goes Bin Laden's War on the U.S. Economy?
September 11, 2007 10:36 AM ET | Pethokoukis , James


Six years ago, Osama bin Laden and al Qaeda weren't just attempting to bring down the twin towers of the World Trade Center. They were trying to smash the American economy as well. Here is what bin Laden himself said about his goals and motivations back in December 2001: "If their economy is destroyed, they will be busy with their own affairs rather than enslaving the weak peoples. It is very important to concentrate on hitting the U.S. economy through all possible means." And here is what al Qaeda second-in-command Ayman al-Zawahiri said in September 2002: "We will also aim to continue, by the permission of Allah, the destruction of the American economy."

No luck so far, despite bin Laden's recent videotape ravings about our taxes and mortgage debt. Although the towers came down, the resilient American economy didn't. Since September 11, the economy hasn't suffered a single down quarter. In fact, it has notched 23 straight quarters of economic growth. (And despite the subprime mortgage crisis, this is likely to be the 24th straight quarter of growth.) Those numbers are especially amazing when you consider that when the terrorist attacks happened, the Internet stock bubble was in full implosion mode. The economy dipped in the third quarter of 2001 and was slightly negative in two of the previous four quarters. But it's been nothing but growth since then. Overall, the American economy is, adjusting for inflation, $1.65 trillion bigger than it was six years ago. To put that gigantic number in some perspective, the U.S. economy has added the equivalent of five Saudi Arabias, eight Irans, 13 Pakistans, or 15 Egypts, depending on your preference. And while 9/11 did cause the stock market to plunge, the Dow is 37 percent higher than it was on Sept. 10, 2001, creating trillions of dollars of new wealth for Americans. What's more, the unemployment rate is 4.6 percent today vs. 5.7 percent back then. Not bad at all.
 

Cal

Well-known member
"If their economy is destroyed, they will be busy with their own affairs rather than enslaving the weak peoples. It is very important to concentrate on hitting the U.S. economy through all possible means."

Hey wait a minute! Isn't that a Democrat perogative as well?
 

TSR

Well-known member
Cal said:
http://www.usnews.com/blogs/capital-commerce/2007/9/11/so-how-goes-bin-ladens-war-on-the-us-economy.html

So How Goes Bin Laden's War on the U.S. Economy?
September 11, 2007 10:36 AM ET | Pethokoukis , James


Six years ago, Osama bin Laden and al Qaeda weren't just attempting to bring down the twin towers of the World Trade Center. They were trying to smash the American economy as well. Here is what bin Laden himself said about his goals and motivations back in December 2001: "If their economy is destroyed, they will be busy with their own affairs rather than enslaving the weak peoples. It is very important to concentrate on hitting the U.S. economy through all possible means." And here is what al Qaeda second-in-command Ayman al-Zawahiri said in September 2002: "We will also aim to continue, by the permission of Allah, the destruction of the American economy."

No luck so far, despite bin Laden's recent videotape ravings about our taxes and mortgage debt. Although the towers came down, the resilient American economy didn't. Since September 11, the economy hasn't suffered a single down quarter. In fact, it has notched 23 straight quarters of economic growth. (And despite the subprime mortgage crisis, this is likely to be the 24th straight quarter of growth.) Those numbers are especially amazing when you consider that when the terrorist attacks happened, the Internet stock bubble was in full implosion mode. The economy dipped in the third quarter of 2001 and was slightly negative in two of the previous four quarters. But it's been nothing but growth since then. Overall, the American economy is, adjusting for inflation, $1.65 trillion bigger than it was six years ago. To put that gigantic number in some perspective, the U.S. economy has added the equivalent of five Saudi Arabias, eight Irans, 13 Pakistans, or 15 Egypts, depending on your preference. And while 9/11 did cause the stock market to plunge, the Dow is 37 percent higher than it was on Sept. 10, 2001, creating trillions of dollars of new wealth for Americans. What's more, the unemployment rate is 4.6 percent today vs. 5.7 percent back then. Not bad at all.

MO girl your response??? Persoanally when I see a republican (I assume) talk about "creating trillions of dollars' worth of wealth for Americans" I become very skeptical because I think I know who MOST of those "Americans" are.
 

MoGal

Well-known member
TSR that wasn't my response. I don't buy into that bs.

"Recently an economist, Susan Houseman, discovered that the reliability of some US economics statistics has been impaired by offshoring. Houseman found that cost reductions achieved by US firms shifting production offshore are being miscounted as GDP growth in the US and that productivity gains achieved by US firms when they move design, research, and development offshore are showing up as increases in US productivity. Obviously, production and productivity that occur abroad are not part of the US domestic economy.

Houseman�s discovery rated a Business Week cover story last June 18, [The Real Cost Of Offshoring, by Michael Mandel] but her important discovery seems already to have gone down the memory hole. The economics profession has over-committed itself to the �benefits� of offshoring, globalism, and the non-existent �New Economy.� Houseman�s discovery is too much of a threat to economists� human capital, corporate research grants, and free market ideology."

There are many reports out there that show Americans income have not gone up however corporate businesses are having profits not seen since the 1950's.

Anybody can believe what they want to. I was shocked by an article the other day that says 50 percent of Americans don't want a religious politician. I personally do not feel that way but perhaps it explains the decline of morals, character and integrity and the disintegration of the family as a unit.
 

Steve

Well-known member
MoGal
I was shocked by an article the other day that says 50 percent of Americans don't want a religious politician.

They are called "liberals",... democrats,.. and yep,... they make up about half the country...why were you so shocked?
 

TSR

Well-known member
Steve said:
MoGal
I was shocked by an article the other day that says 50 percent of Americans don't want a religious politician.

They are called "liberals",... democrats,.. and yep,... they make up about half the country...why were you so shocked?

That's really funny Steve, especially when I consider al those conservative republicans with such high morals as we've seen in the past few years. lol. Of course, with respect to morals,I have always said there's enough blame to go around for both parties but at least the dems didn't tout their high morals like the republicans did to get the right wingers to vote for them. What a let doen for many true conservatives!
 
A

Anonymous

Guest
U.S. Dollar Hits Record Low Against Euro

Wall Street Finishes Flat, Oil Jumps, Dollar Falls


MoneyNews
Wednesday, Sept. 12, 2007

LONDON -- The U.S. dollar hit a record low against the euro and was lower against other major currencies in European trading Wednesday morning. Gold was up.
The euro hit an all-time high against the U.S. dollar on Wednesday, climbing as high as $1.3878 amid speculation that the Federal Reserve will soon cut interest rates before falling back. The previous record of $1.3852 was reached in July.

The euro was quoted at $1.3864, up from $1.3832 late Tuesday in New York.

http://moneynews.newsmax.com/money/archives/articles/2007/9/12/093805.cfm?s=al&promo_code=39E5-1

Meanwhile, crude oil's spike above $80 a barrel, the highest it's ever been in intraday trading, and a weakening dollar fed concerns about inflation. Accelerating inflation is not only a threat to consumer spending — a pillar of the economy that Wall Street fears is weakening — but it also gives the Fed a reason to keep rates where they are.
 

Cal

Well-known member
Goodpasture said:
Cal said:
$1.65 trillion bigger than it was six years ago.
And the real depression will hit when we (our kids, rather) have to pay China back for that loan............
Do you think Mr Chinaman will pull up to the drive up window or walk right in the bank? :???:
 

Cal

Well-known member
MoGal
Anybody can believe what they want to. I was shocked by an article the other day that says 50 percent of Americans don't want a religious politician. I personally do not feel that way but perhaps it explains the decline of morals, character and integrity and the disintegration of the family as a unit.

Maybe it comes more from a decline of the morals, character and integrity of the religious leaders and politicians that have been in the spotlight the last number of years.
 
A

Anonymous

Guest
Cal said:
MoGal
Anybody can believe what they want to. I was shocked by an article the other day that says 50 percent of Americans don't want a religious politician. I personally do not feel that way but perhaps it explains the decline of morals, character and integrity and the disintegration of the family as a unit.

Maybe it comes more from a decline of the morals, character and integrity of the religious leaders and politicians that have been in the spotlight the last number of years.

Don't forget the business leaders of the world- the new key phrase of the business world is "screw anyone and everyone if you can make a fast buck"... Anymore most graduates of business schools think money and wealth is the only power that is needed to succeed- and our politicians help feed the frenzy....
 

Steve

Well-known member
Don't forget the business leaders of the world- the new key phrase of the business world is "screw anyone and everyone if you can make a fast buck"... Anymore most graduates of business schools think money and wealth is the only power that is needed to succeed-

and who is teaching these fine grad students their core corporate values?

couldn't be the god-less university.....
 

TSR

Well-known member
Steve said:
Don't forget the business leaders of the world- the new key phrase of the business world is "screw anyone and everyone if you can make a fast buck"... Anymore most graduates of business schools think money and wealth is the only power that is needed to succeed-

and who is teaching these fine grad students their core corporate values?

couldn't be the god-less university.....

I don't know Steve, I think CORE values are learned by age 12 mainly in the home. I just can't blame everything on professors. As a matter of fact most I know are anything but god less. But alas I wasn't a business major either. (Don't know what happened to my post but here it is finished)
 
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