I saw President Bush on TV today. In part of his speech he said that the economy was beginning to pick up and then they hit us (referring to 9/11.01 and Al Qaeda).

Am I completely insane? Wasn't the economy doing great just prior to 9/11/01? I know that 2001 was a record year for my business and 2002 actually did well until the last quarter.

SO please tell me exactly what was President Bush talking about?
I really don't understand.

According to enconomists, the recession begin late in 2000.

The economy wasn't really good or bad, it was just floating.

If it hadn't been for 9/11, I suspect that the recession would have been a more gradual decline, perhaps leading to an even slower recovery.

The sudden shock and fear after 9/11 knocked the economy off the wall that it had been precariously balanced on.

We already had the dotcom crash, and then the telecom crash.  Layoffs were already beginning.

/Zin