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You're Reading:911 Impact On The Economy, Business, and Marketing

911 Impact On The Economy, Business, and Marketing

by Tasos

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Sep 12, 2022

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Yesterday was September 11th. 911 as Americans say, and it’s a day that the world will remember forever, not only Americans.

In 2001 the World Trade Center, the Twin Towers got hit and everything changed ever since, we actually entered an era of economic recession.

And it was the day when I got started watching the news closely, very very closely because I felt that something was wrong.

And I want to take a moment to discuss the latest news, there is a lot going on…in the globe, in the economy, in the world of business and marketing, and it goes beyond Web 3.0, the latest version of the web that we discussed during the last months and I believe that we are right now transitioning into a new era, a new economic era.

So, let’s discuss the news, let me share some facts, and let’s see what 911 actually means for humanity.

9/11 (September 11th, 2001)

Impact on the Economy, Business, and Marketing

Researching the Latest News

So, this is the first article that I want to share…the Standeford Journal, Aug 28, and they say it’s about BRICS and BRICS is the acronym coined to associate five major emerging economies, we have Brazil, Russia, India, China, and South Africa…

and they say that the president of the BRICS International Forum told reporters that both Russia and India no longer need the US dollar, as they have turned to national currencies to conduct mutual settlements, according to Russian state news RT.

The BRICS president stated that “we have the mechanism of mutual settlements in rubles and rupees and there is no need for our countries to use the dollar”.

And today a similar mechanism in rubles and yuan is being developed by China.

Now…the BRICS countries account for 3 billion people, or roughly 40% of the world’s population and 25% of the global GDP.

BRICS countries population in 2022

%

BRICS account for 25% of the global GDP

So, let’s see the other latest news, and then we’ll try to draw a conclusion about what is happening in the economy because the economy affects business and marketing…

a lot of things are changing and we need to be prepared.

So next, I have an interview with Robert Kiyosaki, the man on the right, it’s a man that I follow for the last 5 or 6 years, a financial expert, investor, and educator, and author of the book “Rich Dad Poor Dad”…

and in this interview with Stansberry Research, a major channel on YouTube with 500K+ subscribers, and the lady asks what happens with Russia, what happens with BRICS, and the dollar…and Robert says that the BRICS nations will actually take over the US dollar, that is collapsing because of the gold standards.

I will embed this video in the article so you can watch the whole interview if you will.

And this happens…this moment comes at the 12th minute and 36 seconds.

Next, I want to discuss an article on MarketRealist, they are discussing BRICS and they say…

after BRICS met in June 2022, Russian president Vladimir Putin said that the bloc is working on a new global reserve currency.

The US dollar has been the world’s reserve currency for decades…

over the years that the US dollar has been the world’s reserve currency, there have been multiple instances that the greenback seemed to be losing its relevance. The country’s handling of the covid-19 pandemic, the FED’s money printing, and China becoming the world’s 2nd-largest economy have put the dollar under the microscope.

An alternative global reserve currency could soon become reality.

The idea of a global reserve currency has been gaining traction for some time now, and the euro was even once touted as a dollar alternative.

However, the West’s crippling sanctions against Russia have brought the idea of a BRICS currency to the forefront.

Russia had massive foreign exchange reserves before the invasion, but sanctions blocked it from using them.

Meanwhile, China has been experimenting with a digital yuan to challenge the dollar’s dominance.

China's economy

Next, I want to discuss another article…found on ZeroHedge by Tyler Durden, Aug 30…

what happened 2 decades ago suggests the dollar is closer to peaking than rallying further.

Even as US stocks fell in the dotcom bust, the dollar continued rising, before entering a decline that started in 2002 and lasted 6 years.

A similar turning point might be near. And this time, the US currency’s decline could last even longer.

Since the 15th century, the last five global empires have issued the world’s reserve currency – the one most used by other countries – for 94 years on average. The dollar has held reserve status for more than 100 years, so its reign is older than most.

USA, Britain, France, Netherlands, Spain, Portugal…

The dollar has been bolstered by the weaknesses of its rivals.

Their gains, which accelerated during the pandemic, have come mainly at the expense of the US dollar.

Digital currencies may look battered now, but they remain a long-run alternative as well.

Many countries speed up their search for options.

South-East Asia’s largest economies are increasingly settling payments to one another directly, avoiding the dollar.

Today, as in the dotcom era, the dollar appears to be benefiting from its safe-haven status, with most of the world’s markets selling off. But investors are not rushing to buy US assets. They are reducing their risk everywhere and holding the resulting cash in dollars.

So don’t be fooled by the strong dollar, the post-dollar world is coming.

The dollar has held reserve status for more than 100 years

Next, I want to discuss an article I found on Hiiraan

Turkey wants to join BRICS because it’s disappointed in NATO and EU – analysts.

By floating the idea of joining BRICS, Turkish president seeks to diversify Ankara’s foreign policy, with its EU membership bid long-stalled and relations with the US on the rocks, analysts told RT.

The Turkish President has suggested that the leaders of the five-member BRICS bloc should add “T” to the acronym.

This is something that we should be aware of…

Next, I want to discuss another article I found on TheDeepDive

It appears that some EU member countries are calling the bluff on the euro, arguing that it may be time to abandon the sinking ship due to its impoverishing effects on smaller economies.

According to Polish Foreign Minister Zbigniew Rau, the EU needs to reform its policies so that member nations can return to using their domestic currencies in lieu of the euro.

Next, I want to discuss another article on Tass

13 countries show interest in BRICS — China’s ambassador.

Argentina and Iran in June 2022 applied to join BRICS. Russian Foreign Minister Sergey Lavrov said these countries are worthy candidates for joining BRICS and the preparatory process for expanding the organization has already been started.

Thirteen countries show interest in BRICS

Next, I want to discuss an article I found on Bloomberg

The Era of Economic Whiplash Is Just Beginning.

…it’s very technical and I want to read only the headline and the sub-headline…

The inordinate amount of “noise” from the shocks produced by the coronavirus pandemic and Russia’s invasion of Ukraine is rejiggering economic relationships and flummoxing policy makers.

Next, I want to discuss an article I found on MoneyControl

RBI crackdown on digital lenders to hit NBFC, fintech business models, raise costs.

Non-banking finance companies and fintechs operating in the digital lending space are staring at a major overhaul of operations, tweaking of business models and a rise in costs after the Reserve Bank tightened the guidelines for such lending.

Next, I want to discuss an article I found on Reuters

Ford cuts 3,000 jobs as it pivots to EVs, software.

Ford Motor Co said it will cut a total of 3,000 salaried and contract jobs, mostly in North America and India, as it restructures to catch up with Tesla Inc in the race to develop software-driven electric vehicles.

Ford cuts 3,000 jobs

Next, I want to discuss an article I found on Lancs.live

Asda, Tesco, M&S could have empty shelves until Christmas due to strikes.

Next, I want to show you an article I found on FoxBusiness

FedEx Ground contractors demand inflation help to prevent delivery collapse: ‘Enormous financial stress’.

As FedEx Ground delivery drivers pay the price for soaring inflation and high diesel fuel prices, FedEx’s largest contractor sounded the alarm that at least one-third of the route system is on the brink of collapse.

Next, I want to share an article I found on News.com Australia…and this is huge.

Aug 22.

China forgives debt for 17 African nations.

China has pledged to forgive 23 interest-free loans for 17 African countries and will also provide food assistance to the struggling nations.

China forgives debt for 17 African nations

Next, I want to this article I found on TheEpochTimes

Unfinished Buildings in China Put Trillions of Chinese Bank Loans at Risk.

Amid the real estate debt crisis, China Evergrande Group and two other Chinese property giants have fallen from the 2022 Fortune Global 500, reducing the number of Chinese property developers to five from eight last year.

Next, I want to discuss…it’s not an article, it’s a guide I found on FederalStudentAid

The Biden-Harris Administration’s Student Debt Relief Plan Explained.

President Biden, Vice President Harris, and the U.S. Department of Education have announced a three-part plan to help working and middle-class federal student loan borrowers transition back to regular payment as pandemic-related support expires. This plan includes loan forgiveness of up to $20,000. Many borrowers and families may be asking themselves “what do I have to do to claim this relief?”

And they explain what you should do to get to apply.

The Student Debt Relief Plan includes loan forgiveness of up to $20,000

Next, I want to discuss something I found on Forbes

It’s from last year but it’s very important because it shows where this thing started and they say…

Education Department Announces $2 Billion Of Student Loans Will Be Cancelled Within Weeks.

Education Department Announces $2 Billion Of Student Loans Will Be Cancelled Within Weeks.

So, next, I want to share what I found on MarketScreener

CHINA EVERGRANDE – 38 OF 706 PROJECTS IN CHINA HAVE NOT RESUMED…

And they had requested projects to resume by the end of September.

And Evergande is a serial, and since 2020 there is a lot going on, as it happened with Skyway!

so let’s see…

Next, I want to discuss an article I found on TheEdgeMarkets

Sep 06,

Evergrande to exit Shengjing Bank in 7.3 bil yuan forced sale — said sources.

A state-owned entity will buy Evergrande’s remaining 14.57% stake in Shengjing Bank for about 7.3 billion yuan (RM4.72 billion) after a local court put the stake on the block, said the people, asking not to be identified discussing a private matter. The proceeds are earmarked to repay debt that Evergrande owes the bank, one of the people said, meaning the sale will not help bondholders or homebuyers of stalled projects.

Next, I want to share an article I found on SchiffGold

Central Banks Continue to Have an Appetite for Gold.

Central banks’ appetite for gold remained robust in July according to the latest data compiled by the World Gold Council.

Globally, central banks added a net of 37 tons of gold to their reserves, bringing the total purchases on the year close to 300 tons.

Qatar was the biggest gold buyer in July…India has been buying gold consistently…Since resuming buying in late 2017, the Reserve Bank of India has purchased over 200 tons of gold. Turkey has been another regular gold buyer over the last year.

Uzbekistan, The National Bank of Kazakhstan, Central banks purchase a net 270 tons of gold through the first half of the year.

and this is huge…

Central banks added 463 tons of gold to global reserves in 2021. That was 82% higher than 2020.

Central banks added 463 tons of gold to global reserves in 2021. That was 82% higher than 2020.

Next, I want to discuss a theme that is occurring lately.

Many CEOs, hundreds and 1,000’s of them are resigning lately and OptimalThinking has a list…

You can go through this article if you want but it’s something enormous, something that was not happening…

So I believe there is something behind this news…

Next, I want to discuss another theme that is occurring lately and I found on Billboard

Every 2022 Concert & Festival That’s Been Canceled Due to COVID-19

They have a list…all these artists canceling their tours, festivals, and events.

This is something I want to discuss as well.

Next, I want to discuss another theme that is occurring these days and I found an article on TechRadar

Top data breaches and cyber attacks of 2022.

They have a list…

Crypto.com, Microsoft, NewsCorp, RedCross, Ronin, FlexBooker, GiveSendGo, CashApp, Marquard & Bahls, PressReader, and more.

And next, I want to discuss Elon Musk & Twitter…I’ve already discussed that a few months ago…and I found an article on YahooNews

July 11th…

Elon Musk wants to terminate his $44 billion deal to buy Twitter.

Next, I want to discuss something that Elon Musk again said…and I found this article on BusinessInsider

Elon Musk says we need universal basic income because ‘in the future, physical work will be a choice’.

Elon Musk said that with the rise of robots, universal basic income will be necessary in the future.

Musk is working on creating a robot that would do mundane tasks so humans don’t have to.

This would take away a lot of service jobs, though, which is why humans would need guaranteed income.

So, this is another bombshell by Elon.

And…I found this guide on WallStreetMojo

Fiscal Year in USA.

And they say that…

A Fiscal year is an accounting or financial year customized for all the financial transactions and accounting procedures and is 12 consecutive months which is reckoned for taxation purposes. The fiscal year in the USA for the federal government starts from Oct 1st to Sep 30th of the next calendar year.

So, that means in 18 days from now, the fiscal year in the USA ends and they are entering a new fiscal year going forward from October 1st.

And next…I want to discuss ISO20022…and it’s an ISO standard for electronic data interchange between financial institutions

It describes a metadata repository containing descriptions of messages and business processes…

and I found an article on IR.com…and they say that…

Banks and financial institutions globally are entering a new era, and they say what is changing in November 2022, as they prepare to transition their payment systems from using SWIFT messages to the new, highly structured and data-rich ISO 20022 financial messaging standard by utilizing blockchain technology.

By 2025 it will be the universal standard for high, or large-value payments systems of all reserve currencies, and will support 80% of transaction volumes, and 87% of transaction value globally. In Europe, SWIFT and the European Central Bank have announced ISO 20022 go-live dates of November 2022 for the standard.

Researching 911

Now, let’s see what History.com says about 911…

5 Ways September 11 Changed America.

The attacks of 9/11 shocked the nation—and led to changes that altered U.S. government, travel and culture.

The War on Terror Began.

Air Travel Was Transformed.

Anti-Muslim Violence Grew.

Surveillance Increased.

America Became Safer, But Altered.

Next, I want to discuss an article I found on Daily.jstor.org

How 9/11 Changed Americans.

15 years after 9/11, what are the lasting effects on Americans’ psychology?

Psychological data collected after September 11th actually found an increase in traits like teamwork, kindness, and love.

Next, I want to discuss an article I found on KQED.org

How 9/11 Changed America: Four Major Lasting Impacts (with Lesson Plan).

‘Forever Wars’.

Immigration and Deportation.

The Friendly-ish Skies.

Big surveillance.

Next, I want to discuss what Wikipedia says about the…

Economic effects of the September 11 attacks.

Insurance.

Airlines and aviation.

Tourism.

Security…

these are the industries that got affected the most.

Next, I want to discuss an article I found on Medium, Nov 2016…

The Economic Effects of 9/11.

While the events of September 11th caused massive damage to New York City, Wessel says that the attacks did not cause a weak economy to collapse. Six months prior to the attacks on the World Trade Center, the U.S. economy entered a recession and did not recover from the recession until mid November of that same year (Wessel, 2011). While the attacks on September 11th did not cause the recession, the “attack-related business disruptions impeded recovery of it” as “economic output grew only 1.9 percent in the four quarters following the recession…translating to a loss of $77 billion”.

While the consumer spending industry was able to bounce back quickly from the attacks, two aspects of life that not only greatly changed post 9/11 but also took a large toll on the economy include the airline and tourism industries. 

YahooFinance discusses the same subject…

Sep 2019.

How 9/11 Affected the US Economy.

  • Cost of Losing the World Trade Center
  • Cost to the Companies in the WTC
  • Cost of the Loss of Life
  • Cost To Rebuild
  • Overall Cost of the Physical Damage
  • Cost to the Airline Industry
  • Cost of Added Security at Airports
  • Cost of Lost Time at Airports
  • Cost of Car Accident Deaths
  • Cost to the Tourism Industry at Large
  • Cost of Aiding Victims and First Responders
  • Cost of Insurance Losses
  • Cost to the Local and Federal Economies
  • Cost to the Stock Market
  • Cost to the GDP
  • Cost to the Job Market
  • Cost to the Housing Market
  • Effect on the Recession
  • Cost of Homeland Security
  • Cost of National Intelligence
  • Cost of the War on Terror
  • Cost of Operation Iraqi Freedom
  • Cost of the War in Afghanistan
  • Cost To Fight ISIS Now
  • Costs for Veteran Care
  • The Cost of Terrorism

Montclair State University discusses the same subject…

The 9/11 Attacks Changed Everything About Life in America.

The economy, the course of history, the war on terror impacted the US, the Muslim community became a target of hate, the lives of siblings changed…

Investopedia discusses the same subject…

How September 11 Affected The U.S. Stock Market.

Key takeaways:

  • The terrorist attack on Sept. 11, 2001 was marked by a sharp plunge in the stock market
  • The first week of trading after the attacks saw the S&P 500 fall
  • The industries most directly impacted were: airlines, whose flights were subsequently grounded; and insurers
  • The U.S. stock market has risen dramatically over the past 20 years
  • The stock market even today remains vulnerable to a major disruption
  • The fallout from Sept. 11 may weigh on the U.S. economy and taxpayers for decades to come after spending trillions of dollars on the wars in Iraq and Afghanistan.

What’s Next? A New Economic Era

So, why all this discussion?

We’ve seen the news, we talked about the economy, BRICS, dollar, euro, precious metals, we discussed business, Elon Musk, and Evergrande, the new trends that are emerging, celebrities and stars canceling live events and tours like never before, CEOs around the world getting fired or resigning, thousands of them, and we discussed 911.

Why 911? What does it mean for us?

It’s all part of a bigger picture!

Let me explain…

911 was not just an attack on buildings, it was an attack on humanity, on our culture, ethics, principles, values, and our everyday lives.

A lot of things changed ever since and still do. Lately, things change even faster and I believe that we can’t keep up with these rhythms, anymore.

911 had a huge global effect that lasted 21 years already.

We actually entered an era of economic recession and only now we are trying to escape from this ongoing trap.

In my country, we were forced to enter the EU and adopt Euro as our new currency.

Here’s a very obvious example of why this was a bad idea for all the countries except a few ones.

Germany had the Deutsche mark, we had drachmas, hellenic drachmas.

1 mark was equal to 170 drachmas. When the transition happened, 1 mark was equal to 1 euro, right? But drachmas….well 1 euro or 1 mark was equal to 340 drachmas, not 170.

In one night, our currency was devaluated, and it lost half of its value.

Pretty fair? The same thing is true for the vast majority of European countries.

This is changing.

Euro is collapsing exactly as it happens with the US dollar, the petro-dollar, the oil dollar right now. It was never a concrete, solid, complete solution. It was fake, FIAT money.

Fiat money does not belong to the new era.

As we can see, so many countries are backing their currencies with precious metals, mostly gold, silver and copper in some cases as well.

BRICS is getting stronger by the day. Beyond the 5 countries-members, there are many new appeals.

My prediction?

Every country will join BRICS. The dollar is dying and no one is going to save it. And no one wants to get left behind. Eventually, all the countries of the world will join BRICS and they will form a new global monetary system.

It already has a name, it’s called Quantum Financial System.

We’ve discussed it a few months ago. Head over to the blog and spot the related articles, you’ll get a ton of insights into the new economic era.

QFS does not work with FIAT currencies, all the currencies need to be backed up with gold. It’s real, not fake, and it stops criminal actions, black money, money laundering, corruption, greed, and so many other problems that we have to deal with.

Evergrande is falling apart and no one is going to save it as well. Do you know what the military found on this company’s cargo?

I better not tell you. You are not prepared for this information right now.

What did Elon say? Global basic income?

Yes, it’s true, it’s coming but Elon did not say the whole truth, he did not reveal the real reason why this is happening. Anyway, I leave that for another video or article.

But it’s very related to what’s happening in Hungary and other countries with those new interest-free loans.

Why are celebrities canceling their live events like maniacs? Don’t tell me it’s due to covid, still, after 3 years? No, something else is happening.

Let me know what you think about it in the comments.

Why CEOs of giant corporations are resigning? Are they bored? Don’t they want their shiny salaries and luxuries?

I think it’s not any of that. They are forced to resign.

And let’s recap 911.

Do you remember the stock market and housing crash in 2008? Where did it start? USA.

Was 911 responsible?

The crash has its origins back in 1999 but yes, 911 played a big role too.

It made things worse and accelerated and amplified the economic recession.

Americans had to pay for extra things, military operations, surveillance that comes with added personnel and expensive equipment, enhanced security everywhere, they had to deal with immigrants, and their tourism industry got hit hard leaving millions of people away from the US.

The economic crash in the US had a global impact…and in 2009, we had the EU economic sanctions against my country, an illegal move to save the banks and politicians, you know, the same old story, we the people had to pay for these unbearable debts, and we entered an economic recession that did not end, yet.Only after 10 years, in 2019, when our economy slowly started moving again, we got hit by the pandemic, and everything went to zero, for one more time.We had to rebuild our economy once again.

Something similar happened to numerous countries around the globe.

It’s a chain, and when a link in this chain becomes weaker, all the links suffer.

We are a team, we are in this together.

911 was a wake-up call for humanity.

It shows that we lost our direction in all areas of life and business.

We learned that we had to look at things from a different perspective.

We had to start all over again but this time, we knew how important understanding why we got there was.

And so we started researching and investigating data, facts, and events of the past.

We realized the power of teamwork, kindness, forgiveness, and love.

What doesn’t kill you, it only makes you stronger.

We look ahead at the future, it’s shining, it’s bright, it’s us united, wiser, and more courageous.

What about the business and marketing space?

In the new economic era, brands that are customer-centric and value-driven will dominate the markets.

Simply put…brands that make this world a better place.

So I want to invite you to join me in the “7 Ideals” beta group and test-drive my marketing methodology to see for yourself how it can help every aspect of your business.

We are opening next week.

That’s it, another article has finished, here on Web Market Support. I am waiting for your comments and thoughts. Till next time.

Tasos Perte Tzortzis

Tasos Perte Tzortzis

Marketing Consultant, Creator of the "7 Ideals" Methodology

Although doing traditional business offline since 1992, I fell in love with online marketing in late 2014 and have helped hundreds of brands sell more of their products and services. Founder of WebMarketSupport, Muvimag, SummerDream.

I enjoy reading, arts, science, chess, coffee, swimming, Audi, and playing with my kids.

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