War on Terror Essay Example | Topics and Well Written Essays - 750 words - 1

War on Terror - Essay Example and all of the countries it trades with. The federal government, in what some might term a ‘knee-jerk’ reaction to the attack, declared a ‘war on terror’ to justify the military initiative de jour and the spending of unprecedented amounts of money on questionable programs and ventures in an effort to ‘provide security’ to its citizens. The terrorist attacks of Sept. 11 were on U.S. soil but resulted in severe repercussions regarding not just national economy. On that day and for about a year and a half prior, the major economies of the world were teetering on the edge of at least recession conditions and many were close to a full-scale depression. The attacks prevented any perceived or real economic upturns that were predicted given the factors present at that time. The event destroyed lives and property, increased government spending at a time when the country could ill afford the excessive expenditures and squelched corporate and consumer confidence which further slowed the economy and hindered the recovery efforts. The events lasted over a period of a couple of hours but its affects are still being felt all over the world. The heightened insecurity regarding terrorist acts and its effects on the economy worldwide continues to give worry to investors and businesses which only serve to further cripple the economi es of most countries. The attacks of Sept. 11 also had an instantaneous negative economic influence on the financial and corporate sectors worldwide. Many companies either closed or scaled back which caused an increase of unemployment and a resulting decrease of the tax base. This lack of consumer, corporate and government monetary resources was not good news for countries that depend upon exporting products to the U.S. for economic stability such as the Asian ports located in Thailand and Singapore. Regions of the world that