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Sheer Heart Attack

U S A - 79% Believe Depression Lasting Several Years Is Coming

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Poll: 3 in 4 think USA is in a recession

USA Today

Richard Wolf

WASHINGTON —
More than three in four Americans think the country is in a recession, a USA TODAY/Gallup Poll over the weekend shows, reflecting a crisis of confidence that economists say could make the economy worse.
As the Federal Reserve expanded credit to securities dealers and President Bush said his administration had taken "strong and decisive action," the poll revealed pessimism about the economy's direction.
Seventy-six percent of those polled said the economy is in recession, compared to 22% who said it's not.
Not since September 1992, two months before President George H.W. Bush lost re-election, have so many Americans said the economy was in such bad shape.
Asked if the nation could slip into a depression lasting several years, 59% said it was likely, and 79% said they were worried about it.
A recession is an economic downturn that usually lasts at least six months; a depression is longer, deeper and more broadly dispersed...
Jared Bernstein, senior economist at the liberal Economic Policy Institute, said a recession can become a self-fulfilling prophesy: "If folks don't feel confident enough to make that purchase, to take the vacation, even to go out to eat, that obviously reverberates negatively throughout the economy."..
After meeting a second time with Bush on Monday, Treasury Secretary Henry Paulson told reporters that the administration is seeking to take actions "that are going to increase confidence in our economy."
Former Federal Reserve chairman Alan Greenspan sounded more downbeat. Today's financial problems could likely be seen as "the most wrenching since the end of the second world war," Greenspan wrote in the Financial Times on Monday...

Things must be really bad stateside if this poll is to be believed.

In Britain, I feel that we are still in the phase where we know something bad may be coming, but we probably believe we'll get out of it. If only we were going to be so lucky after all...

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What do these economists want?? Individuals spending more? Well they can't unless they borrow as they are already maxed out. Besides its what got them into this mess in the first place.

And why should countries such as the UK & USA flog of their wealth to foreign nations that have manipulated their economies to make them export based? Its not our job to keep their economies going. Eat your own tat thank you very much.

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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