Certified financial planner Wes Moss provides personal finance advice and accessible investment strategies. His guest post appears here Monday mornings.
The demise of Osama bin Laden — the most dangerous terrorist in modern history — is a landmark event in U.S. history. But what does it mean for business and our economy as the news settles in?
America has lived though difficult times for more than the past decade. Our markets and economy were first hit in early 2000, followed by another tremendous blow on 9-11, only to slowly fight our way back during the next several years. As we recovered economically, we stumbled once again in 2007 with the worst financial crisis in a generation, a stock market collapse, a housing market depression and a decimated workforce.
But for the past two years, America has been fighting its way back on the economic front. And Sunday night’s announcement that bin Laden had been killed by a U.S. operation shows we hadn’t ever given up that fight, either.
Resiliency + resolve = confidence
It shows the resiliency and resolve that has made us not only a military power, but an economic might as well. This historic news, the result of our own persistence, will only help to strengthen the confidence that America has begun to regain the past several years.
Business is about confidence. Our economy is based on that confidence. And the stock market is a reflection of that confidence and the belief that business in America will always be better tomorrow than it is today — as long as we give it time.
The tracking and killing of bin Laden in Pakistan will mean a surge of confidence here in this country — from small business owners to executives to graduating seniors looking for their first job. This is exactly what our economy needs and will be welcome news for businesses and the stock market in the U.S. and around the world.
What effects do you think bin Laden’s killing will have on business? How will it shape your confidence in the economy?
– By Wes Moss, for Atlanta Bargain Hunter