Financial News NOW!

As will be discussed and debated for years. Here is a small growth industry of academics, pollsters and experts. The Great Depression (as is well said), America has changed psychologically, politically, economically and socially. It was mostly equal in recession since World War 11. In many ways, has affected all social classes, lost jobs, wage cuts, declining home values, stock portfolios shriveled, pensions eroded, the home of adult children to return – and anguish of all the above.

A new study by the Pew Research Center, based on a survey of nearly 3,000 Americans in May and a full assessment of the economic data provides a general overview. Not surprisingly, confirms that Americans have become more efficient, 71 percent say they are buying cheaper brands, 57 percent say they have cut or eliminated holidays. life plans have changed, 11 percent say they have delayed marriage or children, while 9 percent have decreased with the parents.

Another theory – the most powerful, I think – is that the Great Depression, but most of the crashes has been disruptive and disappointing to those who previously were protected more. A legacy of the Great Depression to insecurity and uncertainty have been luxury. And "so unexpectedly pierced cocoon became more cautious and fearful, while those with sufficient time before the loss of jobs and income changes (many blacks, young and poor) have been less surprised. They tend to plan for the worst instead of hoping for the best. His reluctance to commit major purchase (new car or a house) to validate their pessimism delay recovery. People feel more vulnerable.

Related Stories