Poll: One-Third Of Adults Surveyed Think U.S. In Depression
It’s a recession when your neighbor loses his job; it’s a depression when you lose yours.
-Harry S. Truman, 33rd President of the United States
The “D” word is making a comeback. USA Today’s Mindy Fetterman wrote today:
In a sign that anxiety is growing, 33% of 1,011 adults surveyed over the weekend by USA TODAY and Gallup said the economy already is in a depression (though by economists’ measures it is not). Just 12% said that 10 months ago…
Seventy-three percent said U.S. financial troubles will get worse before they get better. They expect their taxes to go up, and many worry about affording retirement or maintaining their standard of living. Nearly half worry about their homes losing value; 20% are seriously looking at taking money out of the stock market…
Trust is shifting from stocks and real estate to federally insured bank CDs. And nearly 30% have postponed, or are thinking about postponing, a big purchase. Almost half of those with jobs are more worried than before that the Wall Street crisis will mean their pay or benefits will be cut.
Displaced Great Depresssion kids
Bakersfield, California (1935)
Source:
“Poll on the economy: Americans gloomier, for now”
Mindy Fetterman
USA Today, September 29, 2008
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