It has been say that as newfound York City goes, so goes the country. I spent well-nigh time in in the raw York after(prenominal) kinfolk 11th. The citys business community had at least temporarily shifted its stress from profit-making to recovering from the terrorist attacks. Not surprisingly, people were not expense practically m unrivaledy. Last week, the Bush administration finall(a)y express the dreaded pronounce -- recession -- conceding that an economic downswing is inevitable. The president is actually concerned about the effects of the deliverance in New York, but not only in New York, passim the country, White House spokesman Ari Fleischer told reporters. Economists brink to coast chimed in with a chorus of little or no recovery for the put down of this year. Traditionally, in this country, analysts say recessions last 11 to 14 months. This leaves the burn up future of the U.S. economy largely in the hands of consumers, who for their part, are too shell-sh ocked to rise to the occasion conscionable yet -- online or off. Standard & Poors says Tuesdays terrorist attacks for throw not drive home a long lasting effect on the U.S. economy, though it does turn over a short and moderate recession at one time appears likely. The New York-based rating agency said the initial retort in financial markets is likely to be a career to safety, and a subsequent sharp fall in prices in a wide range of securities and commodities.

But, it points out, European and Asian markets work already rebounded from the worst levels seen immediately after the attacks. season some pause in consumer spending and business coronation is likely, the efforts of al l levels of governments to return to normali! ty and response of people and officials in New York and Washington strongly suggest that economic effects will be limited in duration and scope, said David Blitzer, managing theater director and chief investment strategist for S&P. If you want to get a full essay, order it on our website:
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