Are We in Recession?
…or worse?
A CNN/Opinion Research Corp. survey indicates that three-quarters of all Americans think the economy is in a recession. This poll was released today, timely in that the stock market seems to be taking a beating today as well.
Only 66 percent felt the same last month, while back in October only 46 percent said we are in a recession.
I ask, though, is it possible worse than that? Are we actually headed dead on for a depression? If you look only at the price of gas, which is expected to hit somewhere around an average of $4+ a gallon by this summer, then you might want to rethink the recession issue and look more firmly at depression. The gas prices drive the cost of all consumer good. In the meantime, the jobless rate is up and salaries are not rising in proportion to the cost of living.
You do the math. Can the average American continue to live this way before it all crashes down around us?
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