Looking back to 2001
We look forward not back
Does your accountant seem obsessed with last year? If you want to legally pay less in taxes, you need a professional who looks forward. Relax Tax helps our clients focus on planning for a better future, and not the past. If we want to look back at anything, we thought it might be fun let our blog look back at what we learned in the last 50 plus years. You can get a FREE COPY of the entire guide at back.relaxtax.com. Now lets take a look at 2001.
2001 Big News Story
Never Forget 09/11/2001
2001 saw the continued unraveling of the nation’s stock markets, along with a recession lasting from March to November. Still, the housing market continued churning higher, up to a median price of $144,582. Undoubtedly, the year is remembered by the 9/11 attacks in New York and Washington D.C., in which two hijacked planes took down both World Trade Center towers and a third crashed into the U.S. Pentagon, killing almost 3,000 people.
At 8:45 a.m. on September 11, 2001, an American Airlines Boeing 767, Flight 11, collided into the World Trade Center’s north tower in New York City immediately killing hundreds of people and trapping hundreds more in the 110-story skyscraper. Only 18 minutes later, a second Boeing 767, United Airlines Flight 175, flew into the south tower. Both towers afire, burning debris covered the surrounding buildings and the streets below while hundreds jumped from the towers to their deaths in an attempt to escape. About 30 minutes later, a third plane, American Airlines Flight 77, crashed into the west side of the Pentagon near Washington, D.C. and a fourth plane, United Flight 93, crash-landed into a field in Pennsylvania killing all 40 souls on board. Meanwhile, both World Trade Center towers collapsed into a terrifying and deadly inferno of rubble.
The Presidents’ Responses
On September 11, 2001, sitting President George W. Bush addressed the nation with a formal statement, “Terrorist attacks can shake the foundations of our biggest buildings, but they cannot touch the foundation of America. These acts shatter steel, but they cannot dent the steel of American resolve.” Eleven days later, the Office of Homeland Security in the White House coordinated a comprehensive national strategy to safeguard the country against terrorism and respond to future attacks. Operation Enduring Freedom, the American-led international effort to oust the Taliban, began on October 7, 2001. Although the Taliban was weakened, the war continued and Osama bin Laden, the mastermind of the 9/11 attacks, remained at large for nearly a decade.
On May 2, 2011, U.S. Special Forces SEAL Team Six invaded bin Laden’s fortress in Abbottabad, Pakistan and took down bin Laden. Sitting President Barack Obama stated, "The death of bin Laden marks the most significant achievement to date in our nation's effort to defeat al Qaeda." He added, "his demise should be welcomed by all who believe in peace and human dignity."
2001 by the Numbers
Economic Data from 2001
Grocery Prices from 2001
Personally, even more then when Reagan was shot I remember exactly getting a call from my first wife that a plane flown into one of the towers. Not having a TV on and with the internet jammed up with everyone searching, I assumed it was a small private plane.
We quickly set up a TV in the conference room of our downtown Tampa offices. We all watched in horror as the second plan hit the other tower. Our conference room in the Bank of America building overlooked the Tampa Police headquarters. Just about the time third plane hit the Pentagon, we noticed that the Tampa PD had snipers positioned on the roof of the police headquarters, and were frantically moving around some large unknown objects. It was that point that I called my wife .We agreed it is time we both leave downtown and get home.
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