Bin Laden Death Effect on the Stock Market

The stock market is about financials, corporations, the economy and our belief about future events. So what does that have to do with Osama Bin Laden? The answer lies in the effect of his cowardly act on September 11, 2001, but it also is reflected in how our fellow citizens reacted to move on from this act of war and show the world that the U.S. is open for business.

America saw its population scared, angry, sad and on the defensive. Yet, our leaders took the offensive and declared that we would not be victims.

Save havens around the globe were eliminated. Taliban leaders in Afghanistan found that their decision to give Osama Bin Laden safe passage found out that they paid for their decision with their loss of their authority, their leadership and their lives.

President Barack Obama stated that operatives conducted the operation at his direction, and took out Osama Bin Laden upon discovery and confirmation of his location.

Since Bin Laden’s greatest travesty created such global uproar, it is important to examine the impact of what he did to global markets. It is widely understood that the impact of the 9/11 actions caused irreparable harm to a number of U.S. and global corporations, not to mention the permanent impact on the families who lost loved ones.

Unfortunately, we expect that gains resulting from news of his death will be substantially dwarfed by news of his actions. Still, we cannot help but to be excited that one of the most notorious enemies of freedom has finally been removed from influence.

As a consumer protection organization that is committed to the protection of the American way of life, the strength of our economy, the influence of our leaders and the spirit of the American people, we are thrilled that justice has finally been served. Osama Bin Laden may have died in a firefight, but he died like the dog that he was. U.S. Navy Seals took him out during a helicopter operation in Abbottabad, Pakistan. That’s a stone’s throw from the capital of Islamabad.

Expectations are that simply the news of Bin Laden’s death may be enough by itself to help nations, the corporations that employ us, and families that have been influenced in one way or another heal from the devastating acts that occurred nearly ten years ago. Mondays can be an interesting start to stock trading, but let us be asured that Monday, May 2 will be a great day in the markets. For those of us who never celebrated May Day outside of elementary school, let’s remember May Day 2011! Thank you to our troops and our leaders, past and present!

Kenneth Long
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Kenneth Long

President at Debtors Unite
Kenneth Long is President of Debtors Unite, Inc. as well as President and Vice Chairman for Vision Credit Education, Inc. He served as a regional coordinator for the North Carolina Saves campaign. Long co-founded the Wake EITC Coalition along with Family Resource Center of Raleigh.

Long is a graduate of the University of North Carolina at Chapel Hill with a B.A. in Industrial Relations. He subsequently received his Certificate in Nonprofit Management from Duke University. His Certificate in Financial Planning was issued by Florida State University.

Long has achieved the Accredited Credit Counselor and Accredited Financial Counselor certifications through the Association for Financial Counseling, Planning and Education. Long originally achieved the Certified Credit Counselor designation through the National Institute for Financial Education.

In addition to years of nonprofit leadership, Long has been an innovator in the field of volunteer tax return preparation programs. He assists volunteer associations and nonprofit organizations who seek to integrate credit counseling and asset-building programs with free personal income tax preparation. His approach to using free credit reports as both an incentive and a screening tool for placement into asset-building programs has been shared with members of the National Community Tax Coalition, the EITC-Carolinas Initiative of MDC, Inc. and nonprofit groups across the Carolinas.

Long assists members of our armed forces in the Carolinas, Iowa, Rhode Island, Georgia and Germany with financial readiness. Please support our Soldiers, Marines, Airmen and Sailors!

Favorite quote:

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."

Thomas Jefferson
Kenneth Long
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