It is quite clear the US economy is sliding back towards recession, if not still in it. The average consumer understands that, yet the average economist doesn't.



How is it that the average consumer has a better grip on the economy that the average economist? Regardless of the answer, here are some interesting survey results from Americans Fear "Double Dip" Recession & European Financial Problems.





92% say the US is still in recession

65% fear a ‘double dip’ recession

57% are fearful about running out of money in the next year

44% could easily see their family slipping into bankruptcy if things get worse

42% say they will spend less money than they did over the last 3 months, while just 10% will spend more. 48% report their personal spending will likely stay even

09% say the US is in a 1930s style economic depression

72% say Europe’s financial problems likely to hurt US

42% say that they or their spouse has had wages or salary reduced

34% say they or their spouse lost their job or has been laid off

33% have taken on more hours or another job to try and make ends meet

28% dipped into a planned retirement account like an IRA or 401K because they needed the money

09% have had their house foreclosed on

08% had their child delay college (or graduate school) or drop out to save money

20% expect their personal finances will recover by the end of 2011, 27% say after the end of 2011, 24% say their personal finances won’t ever fully recover