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Alternate headline: Great Depression worries go mainstream. I guess we can count Barack Obama among the 51% who aren’t worried about it, since he’s not even worrying about a double-dip recession. CNN’s latest poll shows an almost even split between Americans who expect a big collapse within a year, and, er, Americans who aren’t quite as worried about it:
President Barack Obama’s overall approval rating has dropped below 50 percent as a growing number of Americans worry that the U.S. is likely to slip into another Great Depression within the next 12 months, according to a new national poll.
The three-point difference makes this a dead heat within the margin of error. Moreover, this is the most pessimistic survey result we’ve seen on the subject. In 2008, only 38% expected another Great Depression, which rose to 41% in 2009 shortly after Obama took office. In the two years of the Obamanomics recovery, it’s jumped seven points — which shows just how effective people believe Obamanomics to be.
“There is definitely going to be another financial crisis around the corner,” says hedge fund legend Mark Mobius, “because we haven’t solved any of the things that caused the previous crisis.”
The federal government's financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows.
The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of financial promises not paid for.
Originally posted by starwarsisreal
So what then after the Great Depression? Martial Law? Second American Civil War? etc.?
Originally posted by Vitchilo
reply to post by kro32
Except the situation now is very different. People know who did this to them. The FED, the bankers and Washington DC.
Not to mention the police state putting the pressure on everybody.
People are very very very very pissed. It only takes one big event to release that anger.
A new Newsweek/Daily Beast poll finds that Americans are angry about…pretty much everything. From President Obama to congressional Republicans to even God (who has a 33 percent approval rating), everyone needs to watch out for an angry mob coming their way.
Unemployment is at 9.1 percent, gas and grocery prices are skyrocketing, the housing market is in the dumps, and people aren’t happy. Three quarters of Americans think the country is on the wrong track, and 81 percent say the job market is not where it needs to be. Half of respondents don’t think Obama has a plan to balance the budget, and 58 percent think Republicans aren’t doing their part to balance the budget either.
The poll finds that Americans are being affected by their anger in other parts of life as well. Fifty-six percent are so angry that they can’t even sleep.
Originally posted by Vitchilo
reply to post by kro32
People are not pissed?
Poll finds Americans angry about pretty much everything
A new Newsweek/Daily Beast poll finds that Americans are angry about…pretty much everything. From President Obama to congressional Republicans to even God (who has a 33 percent approval rating), everyone needs to watch out for an angry mob coming their way.
Unemployment is at 9.1 percent, gas and grocery prices are skyrocketing, the housing market is in the dumps, and people aren’t happy. Three quarters of Americans think the country is on the wrong track, and 81 percent say the job market is not where it needs to be. Half of respondents don’t think Obama has a plan to balance the budget, and 58 percent think Republicans aren’t doing their part to balance the budget either.
The poll finds that Americans are being affected by their anger in other parts of life as well. Fifty-six percent are so angry that they can’t even sleep.
Sorry but if you are so pissed you can't sleep, you are REALLY pissed.
Originally posted by AeonStorm
I must say that there is something more then just an economic depression taking place. There is most certainly a mental depression happening.
I agree with vitchello. With everything that has happened in the past 3 (or more) years people are SERIOUSLY PISSED. Where does that leave most? This leaves most with the thought that the only reasoning to the current madness is revolt!
I truly hope there is an alternative (although this seems unlikely). We must do our best to make a life for each of ourselves so that we do not create a hell out of lives which do not deserve to have. Can we focus on those who have made our society hell? I hope so!
-AS-
Originally posted by kro32
Originally posted by AeonStorm
I must say that there is something more then just an economic depression taking place. There is most certainly a mental depression happening.
I agree with vitchello. With everything that has happened in the past 3 (or more) years people are SERIOUSLY PISSED. Where does that leave most? This leaves most with the thought that the only reasoning to the current madness is revolt!
I truly hope there is an alternative (although this seems unlikely). We must do our best to make a life for each of ourselves so that we do not create a hell out of lives which do not deserve to have. Can we focus on those who have made our society hell? I hope so!
-AS-
Believe it or not but America has gone through far rougher times than we going through today. Certainly there are serious issues we have to deal with but every generation has had them. And each generation had people claiming that government is out of control and the collapse of the country is about to happen yet were still here.
Believe it or not but America has gone through far rougher times than we going through today.
NEW YORK — The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast. "2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc. The firm predicts 1.2 million homes will be repossessed this year by lenders.
Congress Mulls Cuts to Food Stamps Program Amid Record Number of Recipients
More than 44.5 million Americans received SNAP benefits in March, an 11 percent increase from one year ago and nearly 61 percent higher than the same time four years ago.
Nearly 21 million households are reliant on food stamps.
Health care for the poor is in trouble and so are the states that are charged with providing an increasing share of it. As federal aid to states from the American Recovery and Reinvestment Act of 2009 is phased out, most states have been forced to curb Medicaid, the federal-state program that provides health care for the poor and disabled. Despite his strong rhetorical support for Medicaid, President Barack Obama's 2012 budget proposes to reduce the federal share of the program by more than $6 billion.
For example, the official rate counts only those not working who have seriously tried to find a job in the last four weeks. That rate, the aforementioned 9.4%, does not include those working temporary jobs, who are doing so only because they cannot find permanent employment. The official rate also precludes those working part-time jobs who would want full-time work, if it were available. Finally, this so-called official rate does not count those who are no longer looking for work as they sense that there are no opportunities out there for them. When those several categories are added to the official 9.4% rate, the cumulative total is probably closer to 18%--or just under one in five Americans who want full time, permanent employment, who are unable to secure such work, at present.