Poll: 45 percent of Americans expect another Great Depression

[bemildred]

Source: Phoenix Business Journal/CNN

A new CNN/Opinion Research poll shows a growing number of people think another Great Depression is in the offing.

Forty-five percent of people questioned in the survey said a depression is likely within the next year.

In December, 38 percent of respondents to the same survey said the country would enter another depression in 2009.

Federal Reserve Chairman Ben Bernanke has a more positive view. Asked during an interview with CBS on Sunday whether the country is headed into a new depression, he said, “I think we’ve averted that risk. I think we’ve gotten past that.”

Read more: http://www.bizjournals.com/phoenix/stories/2009/03/16/daily14.html

[marketcrazy1]

1. LOL!!! Bernake says!!!!

considering he has been 100 percent WRONG!! on virtually EVERY projection he has made over the past two years I see little reason to draw any degree of optimism from his comments!!!

[Union Yes]

2. We unionized our way out of GD number 1.

We can do it again peoples!

Support Employee Free Choice Act.

Peace

[Demeter]

3. The Other 55% Are Already Living In a Great Depression

[antimatter98]

4. Why hasn't Biden visited tent cities, why is there no help for unemployed and foreclosed?

But billions, trillions, 11 trillion according to Bloomberg, handed to the banks
who continue to contract credit, raise credit card rates to 30+ %.

I still believe that until a million citizens or more march on DC, we will not
see 'change we can believe in.' It's clear the Obama regime (sorry,but its a regime)
is on a globalist track, and has forgotten American citizens except to tax them,
foreclose them, lay them off, and offer no help whatsoever. But TRILLIONS to the
banks, some even going off shore.

Are we being run by a banking mafia or what? How do we bring an end to this?

[ConcernedCanuk]

5. Are we being run by a banking mafia or what? - that should be a statement, not a question . .

.
.
.

There is NO doubt in my mind that the USA taxpayers are getting raped by their own government

It's been that way for decades, maybe even centuries

It ain't gonna change without a revolution,

And as far as I can see, USAmericans are too complacent

So people like the PNAC and Bush-Gang will continue to rule

There is NO reasoning with sociopaths like the PNAC and Bush gang -

Ya just gotta ignore them, or get rid of them

Only the USAmerican voter can do this, there is no power great enough in the World to defeat the USA

Change has to come from within . .

I'm waiting hopefully . . .

So is the World . . . .

Mr. President Obama

Please don't disappoint us

[GoesTo11]

6. feh

People watch dumb TV personalities, listen to talk radio, and somehow integrate what they hear into their opinions without any further thought. Meaningless as a predictor. I guess significant as an indicator of public sentiment.

[Mojorabbit]

7. I read financial news

from a plethora of sources and I think we have a 50 50 chance of a depression. Someone has to take a bath on the over 500 trillion out there in exotic securities and I don't think the wealthy will be the ones to get soaked.

[GoesTo11]

9. Taking a bath on $500 Trillion?

$500 Trillion hasn't been lost. It has just been stupidly promised by one side to another. No money was lost there. There isn't that much money in the world. When I was in 3rd grade, I once bet another kid a gazillion dollars that he couldn't guess what I had in my pocket. He couldn't, but that doesn't mean anyone had to take a bath on the gazillion dollars. Actually, I guess I took the bath, but given that I was a third grade boy, I probably needed a bath anyway.

[Mojorabbit]

12. I know that there is not that much money in the world

How many of these securities were insured by AIG? No one is just going to say, "Oh Well". How much of this is in pension plans or are foreign nations invested in? I have no idea. It could well take down entire banking systems for all I know. From what I understand no one has a complete understanding of who owns these securities. Until that is brought to light I will assume anything can happen,. If your pension plan is invested in these and you lose everything it is real money lost to you.

[GoesTo11]

14. True, we'll get screwed but

Just as there's $500 Trillion to lose, there's $500 Trillion to gain. That's what sucks here. The Goldman Sachs of the world see this is a blank check to get the gov't to send them more and more and more money. I assume they'll stop once they have all the money in the world taken from us.

You're right, they have to figure out exactly what's in those contracts. Then they have to say "Ok, on paper you're gaining $100B, and you're losing $90B, and you're gaining $500B, and you will go broke if we don't give you $250B" Then don't just pay out to stop the loser from going broke. Get them all to sit down and say "This is how it's going to be. AIG, you get nothing. Goldman, you get a little bit of what was once AIG, but nothing from the govt. Citigroup, you get nothing, whoever Citigroup owes - you get what was once Citigroup but you don't get no $100B gain."

Basically sort it out like one giant bankruptcy case. Better that than avoid acknowledging the bankruptcy and have a bottomless pit to fill with our cash.

[KillCapitalism]

8. I'm not sure of a depression overall.

However, I could see unemployment easily hitting 25% like it did in GD 1.0.

[sallylou666]

10. Deflationary Depression

I believe that we're already there. A deflationary depression. Prices of assets are falling. People don't notice because the prices on necessary items (like groceries)are rising. Or perhaps I should say that sizes are shrinking. No rise in price but the packages are smaller. I avoid processed foods as much as possible. To do this, shop on the perimeter for the grocery stores and avoid the aisles. Except for TP, of course!

[bemildred]

11. Yeah. Bubbles pop.

You don't like popping, you have to give up bubbles. We've been in deflation for a while now, and nobody knows when it might stop.

Edit: Right on about food too, cooking is good for you and much cheaper than packaged and processed all-purpose food paste.

[fascisthunter]

13. well then... we'll need a New New Deal

what c a coincidence... prior to the last great depression Republicans were enriching their Robber Barons and deregulating everything for their "Free-Market" friends.