Current Event #4

Article: “Financial Anxiety Rising, Poll Finds”
Writer: Jennifer Agiesta
Source: The Washington Post

The recent financial crisis has caused widespread anxiety in the U.S. and throughout the world. A Washington Post-ABC News poll conducted on October 10th and 11th shows that roughly 455 of the 517 adults polled (88%) are worried about the direction of the nation’s economy. These new concerns are having the largest effects on the older age groups. Only “44% of adults are confident they can retire with sufficient funds.” This is down a whopping 25% from the 69% of adults that felt confident about the prospects of retiring in 2005. Agiesta described financial uneasiness as “near universal.” A massive 414 out of the 517 polled are worried about the market’s recent performance. We must keep in mind, however, that even during an economic golden age, most find investing in the stock market to be a “risky venture.” On the Brightside, at least gas prices are crazily low; dropping an average of 35 cents per gallon. Bloomberg News gives the responsibility of this drop to lower crude oil prices and the decrease in the demand for U.S. gasoline at the end of the summer vacation months.