Quote:
Originally posted by Silver Cheetah:
Ryanamur, I think this is possibly the best post I have seen on this topic since we all started discussing and debating it. Your clarity is awesome.
Your point regarding the economy - yes, and not just America's! All over the world, countries that have committed to liberalisation of trade, who have borrowed money to develop, and who have contracts with America are suffering already. (I edit a business retail site, and the stories that are coming in are full of woe.) Many of these countries have huge debts (which they took out to finance development so they could compete in world markets), and rely on exports to pay them.
Where some of them are now is called up shit creek without a paddle, where I come from. (Globalisation of trade = dangerous dependencies, in my view, - as we are now seeing. But that's a whole other topic...)
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Silver, you're not exactly correct there. American investors (mainly groups, not individuals) pulled out of US companies, and invested in European companies because of the perception of Europe as safe, and that is is independant of American fluctuation. Things are very different to the great depression when America down, meant the world down. The Euro has also been rising independently of the US (and the Aussie) dollar.
Ryanmur, I think you're missing the things the goverment is doing to help stabilise the airline industry, and the economy as a whole. The focus has been far more than just Bin Laden.
Just the other day Bush announced measures to increase air security from Air marshalls, stronger doors, federal training for security etc etc. This was publicly announced to increase confidence in air travel - the lack of which is responsible for the airline industries' dire situation. Couple this with bailouts and packages to bolster the industry, a huge funding package to rebuild New York, dropped interest rates, public encouragements to visit the theatre and live how you normally would, and you have a government
very concerned with getting the economy back on track. To claim no realisation on their part is an error.
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I am the walrus!.... er, no hang on....
A fair dinkum laughing Hyena!
[This message has been edited by Yorick (edited 09-28-2001).]