Media Talking Up a Depression

I thought it was bad enough a mere week ago when 33% polled though we were already in a depression. Now come these numbers claiming 6 in 10 think it's very or somewhat likely we'll be in one soon.

Based on the relentless doom and gloom, frankly I'm surprised it isn't higher.

A new national poll suggests that six in ten Americans think another depression is likely.

In a CNN/Opinion Research Corporation poll out Monday afternoon, 59 percent of those questioned say that its very or somewhat likely that another depression could occur in the United States. Four in ten Americans say it not likely another depression will occur.

The country went through a decade long depression following the stock market crash of 1929, in which roughly one out of four workers were unemployed, banks failed across the country, and millions of ordinary Americans were temporarily homeless or unable to feed their families.

Eight in ten of those polled say things are going badly in the country today and 84 percent rate the economic conditions as poor.

"The question on how things are going in the country is the longest trend on the public's mood in polling history, and in 34 years, Americans have never had such a negative view," said CNN Polling Director Keating Holland. "That 20% mark is an all-time low the makes the mood of the country worse today than it was during Watergate, the Iran hostage crisis, or the aftermath of 9/11."

If you aren't already depressed yourself, skim through the comments there. Then read this.

After an early plunge of 800 points today, the Dow rallied to close down 370, marking the first time below 10,000 in four years.

Depressing, isn't it?