www.safetyissues.com: Economic Recession Bringing Depression

Economic Recession Bringing Depression
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Staff writer for safetyissues.com on 10/09/08 10:16:00
 
The current economic downturn, which threatens to become a long-running
recession, is not the normal kind. This one is based on a housing slump.
According to the International Monetary Fund, economic recessions caused by
slumps in the housing sector tend to be more long-drawn, and recovery takes much
longer.
The initial reaction of people to this recession is depression, and the despair
has begun.
Staff manning a suicide hot line in Virginia observed a 62 percent increase in
the number of suicide-related calls in the July-August period this year compared
to the same period in 2007. While not all of the rise can be attributed to the
economy, the logs of calls show economic woes are very much a part.
Hot lines that help people cope with crisis have observed similar increases in
calls from people worried about finances. The nation’s biggest operator of
employee assistance programs, including mental health referrals, ComPsych,
reported that calls for assistance due to stress arising from financial
hardships rose 21 percent in July this year compared to July 2007. Another
employee assistance program provider, ValueOptions, said calls of the same
nature soared 89 percent.
A medical center in San Francisco noted that psychiatric admissions increased
four times the usual rate in August. Patients who alluded to financial stress
comprised 60 percent of total admissions.
The most extreme reaction was the case of a former financial advisor who killed
his whole family of five, including his mother-in-law before shooting himself.
His suicide note said he had no options left because his investments had been
wiped out.
A psychiatrist says people often allow themselves to be trapped in the past,
particularly in times of fear, uncertainty and stress. They tend to react
strongly to financial difficulties, and spend their time comparing their current
position to their status one or two years ago.
A recent American Psychological Association survey revealed that 80 percent of
Americans point to the current economic downturn as a major source of stress.
Almost 50 percent expressed fears about how to continue providing for the basic
needs of those dependent on them.
Suicides are exceptional occurrences. More prevalent is a sense of despondency
that quietly disrupts work behavior and disturbs personal relationships.
People may experience insomnia, be persistently sad or irritable, and suffer
intestinal problems.
Safety Tips:
* Avoid blaming yourself. This is a situation not of your own making.
* Address your current situation with sobriety. It is useless to focus on the
past.
* Avoid panic. Panic will lead to unwise decisions.
* Avoid isolating yourself. Talk about your situation with family and friends,
but do not feed each other’s fears.