Nearly Half of Americans Believe Another Great Depression Is Likely

Despite rosy financial forecasts made by economists this spring, our fears that the nation is about to sink into another depression are reaching depressing extremes. A new CNN poll reveals that nearly half of Americans believe a 1930s-scale depression is possible within the next 12 months. A whopping 19% of Americans believe it's "very likely" -- the most since the economy tanked in the fall of 2008. An additional 29% said a depression is "somewhat likely." If we use the original Great Depression as a model, that means many of us are pondering 25% unemployment and rampant homelessness.

The 1,015 people interviewed for the CNN poll hadn't even seen Thursday's unemployment report, which indicated that initial jobless claims had surpassed 400,000 for the ninth straight week.

The good news is, well, we can take a breather until the next poll.

Tell us what you think on the comment board.

Read Full Story
  • DJI25573.6556.820.22%
  • NIKKEI 22521428.39451.282.15%
    Hang Seng28566.9143.560.15%
  • USD (PER EUR)1.13-0.0031-0.27%
    USD (PER CHF)1.01-0.0015-0.15%
    JPY (PER USD)110.450.47000.43%
    GBP (PER USD)1.320.00340.26%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.