From Rasmussen Reports comes yet more confirmation of the sorry state of economic confidence:
Most Americans (53%) now think the United States is at least somewhat likely to enter a 1930’s-like depression within the next few years.
The latest Rasmussen Reports national telephone survey found that 39% think this outcome is unlikely.
Nineteen percent (19%) say a Depression is Very Likely while 7% say it is not at all likely.
Adults in their 30’s are the most worried, with 62% who say it is likely the nation will slip into a deep depression. Less than half (47%) of those Americans over 65 think the country will slip into a 1930’s-like depression.
Fifty-four percent (54%) of investors and 53% of non-investors say it is likely the country will slip into a serious depression. Forty-one percent (41%) of investors disagree, along with 38% of non-investors.
Once could say that this is a sign that the public is panicking, perhaps needlessly, and that may well be true.
However, the state of the economy depends as much on people’s mood as it does on economic fundamentals and these sorts of things have a way of being self-fulfilling.