Wall Street Manna

An irreverent look at Wall Street

Monday, September 29, 2008

1 out of 3: We are in a depression


As people on Wall Street and Main Street hold their breath to see if a federal bailout of the nation's financial institutions will work, Americans are starting to speak — not whisper — the word "depression."

In a sign that anxiety is growing, 33% of 1,011 adults surveyed over the weekend by USA TODAY and Gallup said the economy already is in a depression (though by economists' measures it is not). Just 12% said that 10 months ago.

Economists don't even say we are in a recession!

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