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The Psychological Effects of Economic Downturn

I live and work in Connecticut, and both my life and my work are divided between the social and economic extremes that have always characterized the state.  This being the case, I have had the opportunity to develop and excerise a rather unique social perspective.

Part of my week is spent in a very small middle-class seaside community primarily populated by wage earners, shift workers, military personal and blue-collar professionals. The other part of my week is spent in the uber-rich part of the state often ruefully referred to as the "Gold Coast".

Despite this, there isn't much variation in the issues that my patients bring to my consulting rooms. In both communities my client load runs the gamut from bored housewives to paranoid schizophrenics with breakthrough dissociation. But something has changed.

And the conversations have changed, as well. No matter what the presenting issue or the on-going work, whether I am talking with individuals or couples, whether I am in the northern office or the southern, it invariably comes back to money and the economy, job loss, work slowdowns, foreclosures and bankruptcies.

The same is true among my friends and acquaintances, whether they be contractors, cops, Special Ops or retired at 40. The primary message is fear.

People are afraid, and some of them will say it out loud. What I am beginning to witness, and why I bring this up, is that the fear the current economic condition is generating is coming out sideways.

I have seen a drastic increase in aberrant social behavior - addictions of all sorts surfacing and re-surfacing, court involved domestic violence, child abuse, anger management issues, affairs, divorces and just general stupidity and acting out - along with the expected spike in depression, anxiety and suicidal ideation.

I've even seen an increase in injuries in my Yoga students and my rowing partners and -- forgive me for being airy-fairy -- you know that's just manifest stress.

We cannot control the economy. We cannot control the pressures placed on world markets by the exploding middle classes of India and China. We cannot control the price of oil or the speed with which alternative energy sources become readily available. We are, without doubt, at the sufferance of a juggernaut that we ourselves have created. But all is not lost because we can manage one thing. Us.

We have a choice, just as we always do. We can choose to manage ourselves in the face of what amounts to a global crisis. We can choose to recognize that all things occur in cycles and that, while our current situation may be deeply distressing, it will change. It may not change in exactly the way we expect or would like, but it will change. And change always provides us with an opportunity - it is not an obstacle.

We can also choose not to live in fear and not to let the momentary influences that surround us change who we are and how we behave. Pain - whether emotional or physical - has the effect of causing us to act out of character. This gauntlet that we are all facing is a time for increasing our self-awareness, attending to the things that feed us rather than bleed us, for taking stock and taking responsibility for our own personal universe.

A good friend of mine is a Navy Master Chief with the Seabees. When you ask him what he does, he doesn't say, "I'm a Master Chief." or "I build bridges." or "I provide infrastructure development in war zones." (He's about to embark on a 24 month deployment to Iraq) - he says, "My job is to keep my sh*t together in the middle of a sh*t storm so my men can do their job." Take a lesson -- take care of yourself and take care those around you.

© 2008 Michael J. Formica, All Rights Reserved

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Comments

The Psychological Effects of Economic Downturn

My experience is quite common to those listed by Michael. There is a dramatic increase in almost all stress related disorders including anger mangement.


Lending a hand...

George:

Thank you for your comment. I am hopeful that the work you are doing will provide some modicum of relief for those struggling in these difficult times.

Blessings,
Michael


Wondering...

I guess with news of banks closing, jobs dropping, prices spiking and people loosing their houses, I have to wonder... is this like a parallel to the great depression? Are we looking at something like that? (Just not as severe).
Not that I was there, or even close.. I feel silly asking but to assume that the gov or the nation, for that matter, has control of things is just foolish. They obviously don't have a hold on anything as more things are spiraling outward.
Keeping ourselves smiling is one thing, healthy another, but when you are stuck at your job because the job market is down and you can't better your money situation by getting a higher paying job, that gets in the way. Housing prices and foreclosures aren't your fault but they get in the way. Getting your kids to school on your last drop of gas, gets in the way. How do we hold our heads up when our options*, our tool for change, are dropping along with our spirits? Can we talk ourselves down from the ledge when we start to feel trapped?


Great depression...

Lucy:

You are, actually, quite correct. I listen to public radio rather obsessively, and the economic commentators pretty much agree that, yes, we are looking at something that is very much akin to the Great Depression.

What is keeping us from spiralling that far out of control, for the moment, is the fact that we are now in a global economy, rahter than an isolationist ecomony, and the demand for goods and services from the vast marketplaces of India and China are keeping the engines of commerce moving, while the failsafes (like the FDIC) that FDR put in place to forestall a disaster like what we saw in the 20s are also working.

What we are really looking at is something more like what happened in the 70s, although no one has yet had the temerity to use the word 'recession', the words inflation and stagflation are in play.

Speaking to your other question...we are only as trapped as we allow ourselves to be. This is a moment when all of those conversations about attachment and investment in the ego and the material become so important. It is also a time when setting intentions and creating priorities become important.

Abraham Lincoln said we must "...face the arithmetic. And if we can go forth without nostalgia and sentimentality, we will prevail."

Translation for today: It's just a house -- you lose it, you figure it out and move on. It's just a job -- you lose it, get over yourself and go work at Mickey D's...who cares if you have a PhD?

And don't get all, "That's easy for you to say..." because I have, as an adult with an extensive education, had to, in a moment of personal crisis, work for $12 an hour as a laborer. And I have had to scramble to keep from losing my house. What you do is put aside your expectations and your assumptions, you start where you are, and you go forward with your eye on the prize.

What's most important is faith in ourselves and our ability to be resilient and exploit those options that we _do_ have available to us. Our tools for change are not on the outside -- they are on the inside.

What we need to do to keep our heads up is to do the best we can with the resources we have available to us, and to manage situations as they come up. Getting anxious about our anxiety serves no one.

Blessings,
Michael


Thank you

Michael,
Thank you for elaborating on the subject and I especially appreciate your reference to your own personal situation. It would be unfair to assume any one person has not faced personal hardship.
This idea of another Great Depression is a little unnerving but resources like these articles and words from others helps a lot to remind us that we’re all in it together and makes thinking from the inside out, a lot easier than it could be.

Thanks


I agree, and then some

I've been writing about this same issue on my blog (Ninth Elegy), as I have also been witnessing increases in irritability and acting out behaviors in general. As a Zen practitioner (and monk), I have recently had the rather profound (for me) realization that my fear and tension and self-absorption around economic issues is greatly helped by thinking about what I can do for all of the other people around me who are in the same boat, or worse off than I am. I am convinced that, even as we stand up to those who control the political economic system, that we have incredible efficacy and ability to mitigate the negative effects of our sinking economy by turning toward one another, rather than away. I don't think this is all "self" work--rather it is relational work, that extends out and into our world. Thanks for your very thoughtful post. Laurel


You're quite welcome...

Laurel:

Thank you for your kind words. I believe I've sparred a bit with your practice partner, Christopher, over neuroplasticity and evidence-based issues.

I'm curious about your reference to being a monk. With which tradition and which center are you affiliated out there in WA?

Blessings,
Michael


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