Policymic
Chris miles
15 September 2013
What economic rebound?
Five years after the U.S. economy faced its most serious crisis since the Great Depression, a majority of Americans (63%) say the nation’s economic system is no more secure today than it was before the 2008 market crash, according to new Pew Research analysis.
Just a third (33%) think the system is more secure now than it was then.
It's clear that the American economic mindset is still filled with doubt. Pessimism shadows over the economy, making any rapid economic boom nearly impossible. Americans don't think things are better. In the complex psychology of economics, that can only mean that things are still bad.
Politicians — especially President Barack Obama — often tout an economy that is getting better. And there are clear signs that the Great Recession has made way to a more optimistic economic environment.
But economics is based on human nature, and is heavily driven on human emotions. Despite complex mathematics, analysis, and forecasting, psychology is the biggest factor in economics.
And America's prognosis is depression.
According to Pew, large percentages say household incomes and jobs still have yet to recover from the economic recession. And when asked about the impact of government efforts to deal with the recession, far more believe that economic policies have benefited large banks, corporations and the rich than the middle-class, the poor or small businesses.
Relatively few Americans say that the stock market and real estate sectors have fully recovered (21% stock market, 4% real estate values).
The views on the economy follow a partisan break-down: Large majorities of Republicans (80%) and independents (68%) say the economic system is not more secure than prior to the financial crisis. Democrats are divided: 51% say the system is more secure today while 45% say it is not.
This comes as more and more Americans are just giving up in the job force, tired of looking for employment. The workforce in America only continues to shrink, as these numbers show, pointing to a clear worker fatigue on the sluggishness of the economy.
This is the new landscape of the American economy.
original article found here
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