With the stock market on a downward trajectory, a majority of Americans think it’s likely there’s an economic depression in the future.
That is according to the latest Rasmussen Reports.
The latest survey found 57% of American adults believe it’s likely that, over the next few years, the United States will enter a 1930s-like Depression, including 21% who think a depression is “very likely.”
Thirty-two percent (32%) don’t think a depression is likely, and another 12% are not sure.
These findings haven’t changed much since May, when 55% said a depression was likely in the next few years.
After stock prices closed at their lowest level since the Covid-19 pandemic hit in early 2020, one analyst warned this week that “the risk of severe global recession is rising.”
Thirty-one percent (31%) of Americans believe the stock market will be lower a year from now, while 29% think it will be higher.
Twenty percent (20%) expect the stock market will be about the same a year from now and another 20% are not sure.
Only 24% believe today’s children will be better off than their parents, while 53% don’t think so and 24% are not sure.
To see survey question wording, click here.
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History tells us that after every major health crisis, an economic crisis and war follows. We have only to look at the previous century to see evidence of that scenario.
Not so sure about a 1930 type of depression but for sure a serious turn down of the economies of the world, not just USA. We are much better positioned to weather the storm then China, Russia and maybe India along with many European countries. Mostly because of what Putin has decided to do with Ukraine and his war against that country. Add to that the global brewing crisis of food shortages, lack of water in many places globally. Truly the world is a mess and until the Ukraine issue is solved it will remain that way.