The Psychology of the Economy

Posted: May 13, 2011 3:09 PM by Jeanette Trompeter
Updated: May 13, 2011 9:19 PM

Economic lows lead people to develop depression

It's all over the news. We read stories about our tough economy every day.

It's been a long stretch of economic lows for our country, and consequently for many of us.

So much so, that life as we knew it prior to the recession seems like a lifetime ago if you are one of the people who has faced job cuts, wage cuts, foreclosures or other economic stresses. Brad Rudd is a Marriage and Family Counselor in San Luis Obispo. He says he's seeing people carrying around a real portfolio of stress these days. "And this is gone in for a year, two years and now it's year three. It just begins to seep in as a profound sense of 'It just can't be better'. And that really begins to undermine mental health. When people, you can see them sliding into a depressed state."

Rudd says people shouldn't under estimate the toll prolonged financial worries can have on our mental states. "One of the characteristics of depression is kind of a subtle numbness. And that's kind of a sublte incidious symptom to seep in on you, and it's difficult to know you are there."

It probably doesn't seem far fetched that the unemployed are particularly suseptable, or those who have lost their homes or businesses. But Rudd says just living in these economic times can take it's toll. "There are people who have survived a situation where they've seen a third or a half of the people at their company laid off. And everyday they walk in and wonder if it's going to be their day. That kind of chronic stress wears on a person too.".

Rudd says if you're having trouble sleeping, concentrating, maybe your struggling with weight gain or weight loss, or if you find yourself wanting to withdraw from family and friends, it may be time to reach out for some help. "It's a paradox, because the very thing that's healing when you're in that state of mind is the last thing you want to do. In connection, you find hope. The place to get sicker, is to pull in, close off, shut yourself down, not talk, that's where the hole starts to get deeper."

I remember doing stories on the pressures of "Keeping up with the Joneses" when times were good. The perceived need for a bigger better house, the new suv, name brand clothes, remember those days? Supporting our habits of consumption? There's no body to keep up with anymore. Because pretty much everyone's hurting these days.

The benefit in that may be in taking the shame out of acknowleding how tough these times are. It's hard enough to get a lot of people to even talk about depression. Add financial stresses to the mix and it's all the more challenging. "By the time many men reach out for help, they are in thousand pieces and every piece is on fire." says Rudd. One thing you can be certain about in this economy: you are not alone in struggling with a sense of hopelessness. It has been a long time since we've had much good news. So if it's getting to you, don't wait to reach out. "It's easier to put 3 or 4 or 5 pieces together than it is a thousand. Trust me." says Rudd.

For more on the Psychology of the Economy, click here.