5 ms·
Re: 9/11 You and I are in agreement - that day set the tone for America's future in: * economics - on his way back to the fed reserve in NYC via helicopter in
by game_the0ry 6y ago
Re: 9/11
You and I are in agreement - that day set the tone for America's future in:
* economics - on his way back to the fed reserve in NYC via helicopter in autumn 2001, Greenspan saw the rubble of WTC and decided to drop the fed funds rate, and it eventually hit 1% in 2004, which is why asset prices (real estate, stocks, bonds) are so high today and why we had a housing boom during that time (2004-2008)
* international policy - never ending war on "terror" (not that they decided on "terror" bc when you have a war on a country, you can define the end of the war; a war on "terror" can go on forever bc you can redefine "terror")
* culture / politics - democrat vs republican (and media fed into it bc it culture wars drive ratings)
Yeah...looks like al qaeda did more damage than we thought.
- msamwald 6y agoNon-American here. I think 9/11 has global significance that goes beyond its impact on the US. It destroyed the narrative that liberal democracy, free markets and technology had removed all obstacles that would keep us from converging towards a peaceful, secular and progressive global society.
- api 6y agoI think it started the collapse of that narrative. The failure of the Arab Spring and the rise of Xi Jinpeng did the rest.