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Financial Planning > Behavioral Finance

Consumers angered, fearful of economic issues

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A recent poll conducted by Gallup and USA Today indicates that 56 percent of Americans say their financial situation has been damaged by the financial crisis of the last two weeks.

A further 20 percent say they have been harmed a great deal. Looking to an uncertain future, some 69 percent of respondents say their finances will be harmed in the long run.

Emotions also seem to be on edge: 53 percent say they’re angry, and 40 percent say they’re afraid.
Opinions were also mixed on the merits of the federal financial bail-out plan, although most respondents agreed the government needs to do something.

Without an action, 34 percent said the country would go into a severe, prolonged recession; 22 percent said they believed a depression would follow.


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