55% of Americans believe US is in a depression.
They haven’t seen anything yet.
Special Guests reported:
Has the US reached the tipping point from a Recession to a Depression?
According to the latest poll, The New York Daily News reports that 55% say yes or are unsure and 45% of Americans say no.
But like in any election or poll you have a certain block of ‘undecideds’ and with this poll there are 17% say who said they are not sure but a whopping 38% said: YES, that we are already in a Depression—and the numbers keep skewing toward additional yeses with each passing day.
So, what does this all mean? Are these mere numbers? What impact will the current daily onslaught of negative financial headlines have on the economy?
Many economists say there is one single word that drives the economy and that word is: CONFIDENCE.
The question is: Do Americans have confidence that the economy has bottomed out or do they believe it is about to get worse? And if worse, how much worse?
More… The odds that the present economic crisis will churn into a depression is now up to 20%.