Terror and the Market --Homeland Security Chief says INCREASED risk

When the head of homeland security goes on TV and says we are in a period of increased risk of terrorism here in the United States people should take note. This guy is a man of understatement, and such a warning should be given real weight. America has gone to sleep again -- we have a very hard time staying focused on anything. Can you imagine the impact on the market of another big attack, not to speak of the horror for those of us who are attacked.

When the head of homeland security goes on TV and says we are in a period of increased risk of terrorism here in the United States, people should take note.  This guy is a man of understatement, and such a warning should be given real weight.  America has gone to sleep again -- we have a very hard time staying focused on anything.  Can you imagine the impact on the market of another big attack, not to speak of the horror for those of us who are attacked.

I certainly hope we pay attention this time.  The terrorists are determined and we are at the beach.  But it certainly is worth staying vigilant in our daily lives, and it certainly makes sense to build such an imminent possibility into our investment strategies.  My own sense is that the next event, which all say is inevitable, will shake the markets at their very core, more than 9/11 and for a much longer time.  I don't think this kind of thinking is alarmist.  I think it is cold realism.

Perhaps if we think of the threat of terrorism having an affect on things concrete and personal, like our own savings and earnings, then just perhaps we might actually stay vigilant and on guard in all aspects of our lives for more than a few minutes before we head back to the beach. 

 

Ari Socolow
Ari Socolow: Ari Socolow is the Chief Economist and Editor-in-Chief at BestCashCow. He is particularly interested in issues relating to financial literacy and bank transparency. Since co-founding this website in 2005, Ari has been frequently cited in the media as an expert on local and national savings accounts, CD products, mortgage and loan products and credit card rewards products.

Your code to embed this article on your website* :

*You are allowed to change only styles on the code of this iframe.

Comments

  • Anonymous

    July 11, 2007

    I saw Chertoff on TV and agree - US intelligence has picked up certain signals. In London and Madrid, people are more vigilant and know that something will happen again soon. In New York or DC (and definitely in the rest of the country), people don't want to be bothered. It speaks to the US spirit that we go on with our day to day lives without obsessing over another 9-11.

  • Anonymous

    July 12, 2007

    These terrorists can't even blow up two cars in London and you expect me to be nervous? Let's face it, they got lucky once. It isn't going to happen again and terrorism is just being used to prop up the Iraq war, certain companies in the military industrial complex, etc.

    Let's fight the terrorists but also acknowledge they are a feudal group of individuals that can barely read, let alone destroy our civilization.

  • Anonymous

    July 12, 2007

    @LikeItIs You may be right, but the reality is that our defenses need to be perfect everyday and these monsters need to be lucky just once.

  • Anonymous

    July 12, 2007

    @soczie That's typical propaganda. It's like saying I'm worried about cancer so as a result I will only eat legumes, run 10 miles a day, stay totally out of the sun, never drink alchohol, etc. Risk is everywhere in life and if you let it control you or your decisions, they have won without firing a shot.

  • «
  • Page 1 of 1
  • »
Add your Comment