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Re: DeepBlue1 post# 1215

Tuesday, 12/16/2008 4:57:32 PM

Tuesday, December 16, 2008 4:57:32 PM

Post# of 1224
Ok, got it. Thanks and will consider.

Note this article from CNBC.com about what we've been discussing these months past.
Full story:
http://www.cnbc.com/id/28249915

Downturn Spurs 'Survival Panic' for Some in the US

A paralegal, recently laid off, wanted to get back at the "establishment" that he felt was to blame for his lost job. So when he craved an expensive new tie, he went out and stole one.

The story, relayed by psychiatrist Timothy Fong at the UCLA Neuropsychiatric Institute and Hospital, is an example of the rash behaviors exhibited by more Americans as a recession undermines a lifestyle built on spending.

In the coming months, mental health experts expect a rise in theft, depression, drug use, anxiety and even violence as consumers confront a harsh new reality and must live 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."

The U.S. recession that took hold in December last year has threatened personal finances in many ways as home prices fall, investments sour, retirement funds shrink, access to credit diminishes and jobs evaporate.

It is also 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.





Starboy

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