Pollsters can ask people anything, but that doesn't mean they should or that the results mean jack. Case in point is a new CNN poll that has 48 percent of Americans saying that a depression was likely in the next 12 months. Huh? That's 10 points higher than when the question was asked in 2008, when the economy was in far worse shape than it is today. Let's just put this simply and plainly: The chances of a depression in the next 12 months are practically nil. The 48 percent who say one is likely haven't a clue. Clearly, there are concerns - debt ceiling, unrest in the Middle East, debt problems in Europe, etc. But that's not the same as another Great Depression. It's not even the same as another recession (generally defined as two consecutive quarters of negative growth). Can we please ease off on these hyped-up questions that serve no purpose, other than to rile up people?
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