48 Percent Of Americans Believe Another Great Depression Is Likely In The Next 12 Months - 19 Reasons Why They Are Not Completely Crazy

"So anyone that believes that we are headed for another depression is certainly not crazy. The following are 19 reasons why it is perfectly rational to be pessimistic about the U.S. economy right now....

#1 Today, 25 million Americans are either unemployed or underemployed. 6 million of those have been out of work for at least 6 months. The average duration of unemployment in the U.S. is now close to 40 weeks.

#2 The unofficial misery index, which is calculated by combining unemployment and inflation, is now at a 28 year high.

#3 Sadly, if unemployment and inflation were calculated the same way that they were back in the 1970s, the misery index would actually be much, much higher. According to John Williams of Shadow Government Statistics, the current "real" rate of inflation is approximately 11.2% instead of the 3.6% figure that the U.S. government wants us to believe.

#4 Greece is on the verge of complete and total financial collapse. The yield on two year Greek bonds is up to 28 percent. The European Central Bank and the German government have been fighting over what to do to solve the Greek crisis. The truth is that without a bailout the Greek government will default. If Greece defaults, it would be a huge nightmare for world financial markets.

#5 Neil MacKinnon, an analyst at VTB Capital, is warning that a Greek implosion could set off a 2008-style financial crisis....

"The risk of a 'Lehman moment' for the eurozone is increasing"..."

at  http://theeconomiccollapseblog.com/archives/48-percent-of-americans-believe-another-great-depression-is-likely-in-the-next-12-months-19-reasons-why-they-are-not-completely-crazy