Life size bronze statues depict men standing in line during the Great Depression. (PHOTO CREDIT: MARK WILSON/GETTY IMAGES)
FROM CNN's Jack Cafferty:
More Americans are worried that our current recession might spiral into another Great Depression. A new CNN/Opinion Research Corporation poll shows 45 percent of those surveyed think a 1930s-style depression is likely to happen in the next year; that's up from 38 percent who felt that way last December.
The good news is Fed Chairman Ben Bernanke isn't one of those people. When asked on "60 Minutes" if the country is headed into a new depression, he said "I think we've averted that risk. I think we've gotten past that."
This poll described the Great Depression as a time when about one in four people were out of work, banks failed across the country and millions of Americans were temporarily homeless or unable to feed their families.
Depression or no depression, the survey shows 89 percent of Americans describe economic conditions today as "poor;" only 11 percent say they're "good."
When asked how long it will take for the economy to recover, 10 percent say within a year; 32 percent say between one and two years, 24 percent say between two and three years. 12 percent say between three and four years; and 22 percent think even longer than that.
As for Bernanke - he says the recession will probably end this year - and a recovery will start next year. The Fed chief says stabilizing the banking system is the key to a full recovery.
Here’s my question to you: How worried are you that the recession will become a depression?
Interested to know which ones made it on air?
Mac from Michigan writes:
I've been unemployed for 17 months now and as I write this my wife is packing boxes for me to carry out to the truck because the bank is taking the house back. We have been married for 34 years and this January was the first payment of any kind we had ever missed. Her factory closed its doors in January. Yeah, I'm worried, real worried. But I don't know why, got nothing left to lose.
Jeff from Charlotte, North Carolina writes:
I think the worst is over. Not that everything will be all better next week, next month or in six months – it won't. But I see signs the tide is turning. In my area new homes are being started again, some out-of-work friends are finding work, the stores are busier, and I see some new cars in the neighborhood too.
More worried now than a year ago. All that money going out the window for "social" programs makes me worry. Let's see, take money from people who earned it and give it to people who didn't. Will that incentivize people to start or stay in business? No. Well, as I said, I'm more worried now than a year ago.
Stacy from Florida writes:
It already is a depression for about 10% of the population.
Donna from Ontario writes:
I felt better after I got back from a recent trip to Disney World. It was packed. No shortage of little divas getting a makeover at the 'Bibbidi Bobbidi Salon'. The hotels and restaurants at Disney were all full. We kept saying "Recession, what recession?" Our flights from Buffalo were also sold out both ways.
It's a terrible notion. Life is already bad now; I can’t imagine what a depression would feel like. I live in South Florida where homelessness is seen on every block. To think people I know and possibly me could be facing the same demise is unfathomable.
Yes, Jack, my own. Even my pills aren't helping these days!