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Americans are bracing for inflation and a market crash: survey:
Inflation and a potential stock market crash. These are the two biggest threats to the US economy and to the financial wellbeing of Americans, so says a survey by personal finance software firm Quicken.
The Menlo Park, Calif.-based Quicken/SurveyMonkey online poll was taken earlier this month, which consisted of a sample of 1,200 US adults ages 18 to 74 from the Cint Consumer Network, according to Quicken's press release.
The survey revealed that nearly three-fourths who responded to the survey (71%) ranked inflation (currently at 7% and the highest since the early 1980s), as the top concern, followed by new COVID-19 variants, supply chain disruptions and a stock market crash. On that last point, the survey noted that 52% surveyed agree that there will be a stock market crash in the next five years. Of that group, 58% expect a looming stock market crash will impact their finances negatively, according to the press release.
Yet not everyone views a potential crash as such a bad prospect. Some Americans saw the financial gains that more aggressive investors had made from the day of the 2008 stock market crash, and are now looking to capitalize for the next one. According to the press release, 52% of self-described "aggressive" investors are likely to say the 2008 crash benefited them financially, compared to 18% of so-called "conservative" investors. What's more, 71% of aggressive investors, compared to 20% of conservative investors, believe a stock market crash in the future would benefit them financially. A notable percentage of respondents who believe there's going to be a crash in the next five years – 35% – agree that they're waiting for a crash in order to invest some extra cash.
A sizable percentage of younger adult generations surveyed – Millennial and Gen Z – also see the benefits to a future stock market crash. According to the survey, 41% of Gen Z and 36% of Millennials agree that they are waiting for a stock crash in order to invest their extra cash. Another 30% of Gen Z and 28% of Millennials say they're waiting for a crash so that they can start investing, according to the press release.
(Score: 2, Informative) by Anonymous Coward on Sunday January 23 2022, @01:12PM (2 children)
Providing quality surveys supporting the sale of Quicken softwar.e.. yeah, that's a source I wanna see on the front page of SoylentNews.
(Score: 3, Insightful) by mcgrew on Sunday January 23 2022, @10:08PM (1 child)
One would have to see if it was commissioned by outside experts in surveying (I worked with some, we surveyed public aid clients). It has a large enough sample size, but what the questions actually were and how they were worded could easily skew a survey. If a bunch of MBAs made up the survey, though, the survey is bullshit. You don't ask a plumber to wire your house (unless you're Donald Trump), you hire someone competent.
But judging how ignorant most of us Americans are, those numbers look about right. Fools are worried about our 6.5% inflation, not much worse than Canada's 5% and a hell of a lot better than Turkey's >30%. The whole damned world's economy shut down for a year and a half, and these dimwits expect everything to be normal? They give Biden a very low approval rating, but he's accomplished a hell of a lot in only one year. But morons think an American president can fix a worldwide inflation!
As to the stock market crashing, that suggests to me that the respondents were answering a loaded question. I've seen nothing in any newspaper about people worried about stock crashes, or heard anyone worried about it, unlike when the stock market took a plunge at the beginning of the pandemic and several people I know went apeshit over their IRAs.
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(Score: 1, Informative) by Anonymous Coward on Sunday January 23 2022, @11:58PM
It's SurveyMonkey. Here is literally the whole thing...
What worries you most
[ ] Inflation
[ ] Market Crash
[ ] none of the above
Thank you for participating. Two SurveyMonkey BananaPoints [tm] have been credited to your account.