Shoplifting, drug use, depression, anxiety and even violence.
These could rise in frequency in the coming months, according to mental health experts, as the U.S. recession leaves consumers confronting a harsh new economic reality — and the prospect of living within diminished means.
“People start seeing their economic situation change, and it stimulates a sort of survival panic,” said Gaetano Vaccaro, deputy clinical director of Moonview Sanctuary, which treats patients for emotional and behavioral disorders.
“When we are in a survival panic, we are prone to really extreme behaviors,” he said.
The recession has come as a rude awakening for a generation of shoppers who grew up on easy access to credit and have never had to limit purchases to simply what they needed or could afford. Instead, buying and consuming have become part of the national culture, with many people using what is in their shopping bags to express their own identity, from the latest gadgets to designer handbags.
For those who need to abruptly curtail spending it can lead to anxiety or depression as shopping can no longer be used as a stress reliever. It could also lead to a rise in shoplifting or violent behavior as consumers act out, mental health experts said.
Tell us how you are reacting to the recession? Has it forced you to curb your spending? Is that leaving you feeling anxious or depressed?
(Photo: Reuters)
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6 comments so far
In early 2006, the first time ever home prices rose above 4 times the avg. personal income. Total Private and Corporate Debt rose to 3.6 times GDP by the end of 2007. In late 2006, the S&P 500 was trading at a record 4.4 times book.
Only a fool couldn’t see what was coming and didn’t divest of all financial assets.
- Posted by John P. CrowleyJohn, are you suggesting that the people running our financial system are fools? I’m worried now… you don’t suppose they’ll do anything foolish with that hundred zillion dollars they got that didn’t exist anyway?
- Posted by Russ in PAYou wrote:
“Shoplifting, drug use, depression, anxiety and even violence…could rise …and the prospect of living within diminished means”
What you really mean is that people will AGAIN refuse to take any responsibility for their own actions, blame it on something or someone else, and act out just because of their own lack of self control.
- Posted by Sandy St.JohnTell me one more time that all of our problems are because of the economy ?!
No - it’s consumer’s lack of self control, lack of patience, and lack of willingness to wait until they can afford what they want to buy!
I feel almost a sense of calm in that now these high expectations that we had of each other are disappearing. This ‘keeping up with (and outdoing) the Joneses’ in itself was a state we couldn’t maintain. The outrageous gift-giving at Christmas and mindless spending just for the sake of buying something… I’m glad it’s over and we are finally waking up.
Of course, I haven’t lost my job yet. But my company has been bought and that part is in store for 2009.
It’s apparent there were many that thought the boom would last forever.
- Posted by AlyceI’m not buying food for myself outside of home food requirements. No more McDonalds,Starbucks or convenient store quick foods. I have lost weight and saved a lot of money.
- Posted by MikeThis story makes me anxious and depressed.
- Posted by Dan