POLL: 57% of Americans Believe an Economic Recession is Right Around the Corner
Jose Nino
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As the stock market plunges and inflation continues doing a number on the American economy, a majority of Americans believe that the country is likely to go through an economic depression.
According to a recent Rasmussen poll, 57% of American adults believe that the United States will go through a 1930s-style depression. This includes 21% who believe that a depression is “very likely” to happen.
32% don’t think a depression is likely to happen. An additional 12% are unsure.
These figures haven’t changed much since May, when 55% believed a depression was likely to place in the next few years.
In a similar vein, 31% of Americans believe the stock market will be lower a year from now. By contrast, 29% believe it will be higher. 20% expect the stock market to have the same performance a year from now. An additional 20% are unsure.
Republicans (72%) are more likely than Democrats (47%) or independents (54%) to believe that it’s at least somewhat likely the US will go through a 1930s-style depression in the next few years.
By contrast, Democrats (43%) are more likely than Republicans (21%) or independent voters (24%) to believe the stock market will be higher in September 2023.
As far as race is concerned, whites (27%) are less likely than blacks (31%) or other non-white minorities (35%) to believe the stock market will reach a higher point than now in September 2023. 57% of whites and 55% of blacks and other non-white minorities believe it is at least somewhat likely the US will be under 1930-style depression conditions in the next few years.
Americans making less than $50,000 are most likely to believe the US will enter a depression in the next few years.
Pretty much everyone knows that the economic situation in the US is pretty putrid.
Unfortunately, many people will blame the country’s economic woes on “free markets”, speculators, or greed. In reality, the primary culprit is government policy. Namely, excessive government regulations or money printing that cause economic problems.
To stabilize the US’s economy a change in leadership in Washington is of the essence. The status quo that dominates in DC is not sustainable and will lead the country to economic turmoil when push comes to shove.
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