Was the Economy and Financial Crisis all caused by September 11?

Our society has fallen apart since those terrorist bastards destroyed the beautiful World Trade Center! People losing jobs! Families torn apart! Small independent businesses crumbling! Less friendly neighborhoods! Increased prices on everything! More crime! And what's with the never ending war!?Was the Economy and Financial Crisis all caused by September 11?
It is not a completely ridiculous statement. Some some the contributing factors to the current debt crisis definitely had their origins in the Bush Administration / Fed's reaction to 9/11.
First, the Fed dropped interest rates to extremely low levels to help business get easy credit after 9/11. The drop in mortgage rates caused the real estate market to heat up and become driven by speculation. When interest rates started coming back up in 2007 (as was inevitable), it creamed the real estate market - and we haven't hit bottom yet. Even Alan Greenspan admits that leaving interest rates too low for too long was a huge mistake.
Second, The two wars that we began as a reaction to 9/11 have cost the US between $4 Trillion and $5 Trillion. That and the Bush administration tax cuts of 2006 have added a total of $9 Trillion to the national debt. That is $9 Trillion out of $14 Trillion. Wanna fix the economy? End the wars and roll back the Bush tax cuts on incomes over $1 Million. Congratulations, we just reduced the national deficit by almost half.

Bottom line: In a lot of ways, you are absolutely correct.
Its not 9/11. Infact during the war some sectors of the economy benefit from increased production of certain goods and services. The current problems are related to the following;

1. The collapse of financial institutions after the housing market failed.

2. The ripple effect being Global Financial crisis

3.The increase in interest rates

4. The cooling of the chinese economy



Its a global economy and so you can not isolate the problem to specific countries.

The effect of currency strengths are felt on the Economy of related countries. the major players are US, Japan, China.



When the chinese economy cooled down, there was a resultant drop in demand for imputs. Some of these inputs were from USA.Was the Economy and Financial Crisis all caused by September 11?
No. It all starts from the leaders who destroy this country by providing jobs overseas to China and India rather then keep them at bay. Also, the war costs billions of dollars to the tax payer which we have the option not to engage. Economical stress can be worst then killing people and wars are not always the best solution.

We are basically promoting and helping communism by helping China grow economically.

9/11 is just an excuse.
No it is because of overspending by the Federal Government and excessive borrowing. Unlike hard working people who realize you cannot borrow yourself out of debt the politicians just don't get it.Was the Economy and Financial Crisis all caused by September 11?
Those "terrorist bastards" are your own government. The only "never-ending" war here isn't the war on terrorism (which is a hoax). It's the war on drugs.



Open your eyes.