4A - THE UNIVERSITY DAILY KANSAN
OPINION
FRIDAY,SEPT.14,2001
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IN MEMORY
People from all over Lawrence came together Thursday evening for a candlelight vigil in memory of every one involved in Tuesday's terrorist attack. They lit candles, listened to speakers, sang songs, and prayed on top of Campanile Hill.
ECONOMIC ANALYSIS Market will recover from terrorism
As a nation, we have suffered an unspeakable tragedy. Our hearts go out to the family and friends of those who have been touched directly. In the next few days, we need to rescue the injured, bury the dead and clear the rubble. Once the financial buildings are stabilized, and computer infrastructure repaired, we can begin to resume life as we once knew it. That may be in as soon as a few days.
Of course, life won't be exactly the same because important loved ones will be missing, and they will be missed. However, in focusing on what has changed, it is important to remember what hasn't changed.
The United States is still the safest, soundest and most open democracy that history has ever known. Our economy has no peer. We remain not only the envy of the world but the envy of history. The kings of yesterday didn't live as well as our poor today. America works for the broad cross section of Americans.
Nobody knows what the short-term financial effect will be from all of this. Some economists confidently predict sharp recession and severe market panic. They are guessing, but odds are good that such nay sayers will be wrong (again).
PERSPECTIVES
Mark Hirschey is a professor of finance and a Stockton Research Fellow at the School of Business.
Long term, costs and profits will be more dramatically affected for the airline, insurance and lodging industries, among others. The cost of business has gone up, and consumers will see an effect.
Profits for major companies, already squeezed by a slowing economy, are now expected to drop roughly 15 year-over-year percent in the third quarter. That number is already slightly worse than the 14.7 percent decline expected Tuesday, before analysts began reacting to the attacks. Corporate profits are expected to drop by roughly 3 percent in the fourth quarter, down from 2.6 percent Tuesday.
Human nature being what it is, the attack may cause some investors to panic. History says we should expect a quick drop in the market, perhaps as much as 5 to 10 percent, when trading resumes. But to sell into such a panic is more than unpatriotic; it is stupid.
Before the Tuesday morning attack, the stock market looked oversold and ripe for a rebound. If there is indeed any severe attack-induced stock market panic, the compelling case for stepping up to the plate and betting on the United States just gets stronger. The U.S. economy, Wall Street and the American spirit all have survived this despicable attack. All will be stronger in a month. All will be stronger in a year.
History tells us that such short-term drops are quickly reversed. This is especially true when there is no lasting damage to our industrial capacity, and there is none. This is especially true when panic hits Wall Street after a severe bear market correction, and for several months Wall Street has been locked in a severe bear market. During the last 12 months, the Dow is down 14.2 percent, the S&P 500, down 26.64 percent, and the Nasdaq, down 56.49 percent.
Stupidity in the face of crisis doesn't help
So I was going to write this really emotional column about how upset I was about the whole bombing situation, about how it was important that we remember that we're not yet sure who was responsible. I was also going to say how important it was not to attribute the evil of a terrorist organization to any particular ethnic group, religion, or nationality. But then I realized that there was a much more fundamental reminder that we all need: how important it is that we don't act stupid.
Let's assume that the mastermind behind these attacks was Osama bin Laden. After all, he has the organizational ability, the finances, and the prior experience to execute a plan of this complexity. Let's also assume that the United States is going to dedicate every resource at its disposal to killing bin Laden and the members of his organization. How should we let this affect our daily routine?
Not at all. Oh, we may be able to rest easier at night once we've brought him to justice, and we may be able to be
proud to members of a country so swift and terrible in its vengeance, but we don't need to be embroiled in the midst of a world-wide conflict that consumes our every thought.
For some people this may come as a surprise. I tittered a bit when I heard that the Southern Governor's Conference had been canceled. I chuckled lightly when I found that the Topeka Statehouse had been evacuated. And I laughed out loud when I learned that the West Ridge Mall in Topeka had been closed. Does anyone honestly think that a terrorist organization will spend years of its time training pilots, millions of its dollars preparing for the operation, hijack four jet aircraft, and strike the World Trade Center Towers, the Pentagon, and a mall in Kansas?
I was also amused by the lines of cars at gas stations. Um, folks, I have some bad news. There is no gas being imported from Afghanistan (where bin Laden resides). No cut-off in supply can be reasonably anticipated. Any price spike is an irrational knee-jerk response
that will dissipate shortly. All of you who sat in panicked lines to top off your tanks ought to go sit in the bunkers you dug for Y2K and feel sheepish.
And to be perfectly frank, I was a little disappointed to see that major media outlets such as CBS had less perspective than 96.5, the Buzz. When the Buzz didn't have any facts to report, it went back to playing music. But the droning network heads kept jammering out the same story for hours. I'm no journalism expert, but it seems that taking seven hours to report 30 minutes worth of information is a little bit excessive.
All of this is not to say that these acts weren't terribly heinous. It was a very surreal experience for me to watch a building that I was working in less than two months ago burn on national television. It was horrifying to watch hundreds of people die as the second aircraft plunged into the World Trade Center. And it was heart-wrenching to think about the thousands who perished as the buildings collapsed.
But hysteria isn't going to help anything. If you want to make a difference, don't sit around and watch talking heads repeat themselves. Don't stock up on canned goods and bottled water. Go down to Kansas Blood Services at 535 Gateway and make a donation. To facilitate the process, you might want to call ahead at 843-5383. This is a concrete, life-saving contribution you can make, as blood is in short supply nationwide.
Other than that, the most appropriate course of action seems to be to keep the victims and their families in our thoughts and prayers, and to let our elected officials do their jobs. By refusing to allow terrorist actions to dominate our daily lives, we will have done something that no amount of scurrying, fretting, or hysteria could ever accomplish. We will have denied the terrorist the use of his most fundamental weapon. We will have denied him terror.
Robert Chamberlain is a senior in political science from Topeka
Christianity has its own long tradition of religious terrorism
I write this in hopes of respect for my friends who are Muslim and Arabic, many of whom have been harassed after Tuesday's tragic events. I hear ignorant people leaving messages at mosques across the country, making serious generalizations that can only be destructive — not helpful — in a time that calls for level-headedness.
In the Muslim faith, neither Allah nor Mohammed ever condone killing for the religion, and neither do 99 percent of practicing Muslims.
Earlier last century, another band of terrorists who were Christian killed in
the name of God and killed millions. They were the Nazis. But not every Christian or German was condemned.
Earlier still this century, another band of terrorists killed and pillaged in the name of God, who were Christian, and killed and relocated thousands of Native Americans. They were Americans and believed in holy cleansing of "heathens" through a policy called "Manifest Destiny," yet not all Americans believed in this or were condemned for it.
Earlier yet, another band of terrorists killed in the name of God. They
were Christians and killed thousands. They were the Crusaders of the Church, but not every Christian supported them or was grouped with them.
Earlier even yet, a band of terrorists killed and tortured in the name of God and were Christian. They led a movement collectively called the Inquisition, yet not all Catholics were condemned or supported this.
The list could go on. There will always be fanatics who read between the lines of any religious document and take it for what they want it to mean to support their cause. Religion is only a
construct. How that construct is manifested is all a matter of interpretation. There is a fine line between fanaticism and terrorism.
To our Muslim brothers who are helping in the search for the perpetrators of this injustice and who are praying alongside us, I say, praise be Allah, and prayers and peace upon Mohammed.
Brendon Allen is a senior from Phoenix.
PERSPECTIVE
Chancellor was right not to cancel class Tuesday
I walked out of class in Nichols Hall at 9 a.m. Tuesday and walked up to my office as usual. The TV in the next room was on, showing CNN. Classmates and co-workers were watching the unfolding scenes in New York and Washington.
I was shocked and horrified. I spent most of the rest of the day in front of my TV at home, keeping abreast of what little news there was to be had. My vigil was broken for only my other two classes. One professor gave us the option of leaving if we desired; the other went on with class. Chancellor Robert Hemenway, after consultations with the governor, decided not to close the University of Kansas. The rest of the state stayed open, too.
I think that Gov. Bill Graves and Chancellor Hemenway were correct in keeping the University open. Professors were given discretion to cancel their classes, and I have heard many examples of some doing so. Students have always had the option of not attending classes. Some did, some didn't.
Yesterday, the National Football
League announced that it was cancelling all of the games planned for Sunday and Monday. The NCAA had earlier decided to go ahead with its games, with a few conferences deciding to cancel their games anyway. After the NFL canceled their games, the NCAA changed its mind and followed suit. So did most other sports. Major League Baseball has canceled its games through Monday, all minor leagues have canceled the rest of their seasons, as has Major League Soccer. NASCAR has also canceled its race this weekend.
While I understand the reasons for canceling these events, I think this is a mistake. It will no doubt be difficult for fans to cheer in this time of tragedy, and for the players to play, but I think it's necessary to do so.
When Sunday rolls around, we will have had four days to mourn. I think by then, many Americans will be in need of something to help take their minds off this tragedy. I think that sports can help all of us begin the healing process, including the players in these games.
What this all comes down to is my core argument: we must keep on with
our normal lives as much as possible. We have been the victims of a despicable act of terrorism. Our government is working to find out who is responsible, and then we will respond. A much greater response that all of us can give to these terrorists is simply to keep going. I think, as do many others, that if we close the University, if we cancel all these sporting events, the terrorists win. They've achieved their objective: to scare us into changing our norms.
So we're still in classes, but we're not going to have a football game tomorrow. Today is a national day of mourning. In the meantime, we need to fight back against the terror, and those who would disrupt our lives. I think the best way for us as citizens to do this is to do everything we can to bring our lives back to normal. Never forget the victims in New York, Washington and Pennsylvania. But I think that our best course of action as a whole is to continue to live our lives.
Dario Landazuri is a senior in computer engineering from Milwaukee, Wisc.
OPINION EDITOR'S NOTE Talk to Them ELECTED OFFICIALS
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