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Downturn spurs "survival panic" for some
Reuters ^ | December 16, 2008 | Nicole Maestri

Posted on 12/16/2008 9:53:43 AM PST by NYer

NEW YORK (Reuters) - 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.

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, that leaves a major void, said James Gottfurcht, clinical psychologist and president of "Psychology of Money Consultants," which coaches clients on money issues.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: economy
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1 posted on 12/16/2008 9:53:43 AM PST by NYer
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To: NYer

Given this, I think as long as Oprah exists suburban housewives will be happy. If she goes off the air I think we might see a bunch of women waving New Age books screeching about how to be ‘saved.’


2 posted on 12/16/2008 9:55:49 AM PST by Niuhuru (Fine, I'm A Racist and Proud Of It!)
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To: NYer

In the case of the tie-stealer, I suggest counseling to help with his angst, followed by a 2x4 to the head to help with his stupidity.


3 posted on 12/16/2008 9:55:54 AM PST by bigbob
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To: All

Realistically, how much “stuff” do we really need?


4 posted on 12/16/2008 9:55:57 AM PST by NYer ("Run from places of sin as from a plague." - St. John Climacus)
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To: NYer

5 posted on 12/16/2008 9:57:02 AM PST by Chet 99
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To: NYer
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's not very creative. There are much better, more effective ways to get back at the greedy SOB's and corrupt politicians that have drove this country to the brink.

6 posted on 12/16/2008 9:57:43 AM PST by dragnet2
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To: NYer
Realistically, how much “stuff” do we really need?

A roof over my head, food on the table, my family around me, a good book, and a warm blankie.

I'm a simple man to keep happy. Just ask my wife. ;^)

7 posted on 12/16/2008 9:58:13 AM PST by Just another Joe (Warning: FReeping can be addictive and helpful to your mental health)
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To: NYer
She is now buying her son toys from the popular movie Madagascar for $2 at McDonald's, and is wearing clothes that have hung untouched in her closet for years.

She has to wear her old clothes? Oh cry me a river.

8 posted on 12/16/2008 9:59:04 AM PST by Chet 99
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To: NYer

In other Reuters news:

Dog Bites Man

Sun Rises in East AGAIN, When will it stop?

Women are Different from most Men.

Women and Children hit hardest by just about everything.


9 posted on 12/16/2008 9:59:09 AM PST by nerdwithamachinegun (All generalizations are wrong.)
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To: PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...
*Ping!*
10 posted on 12/16/2008 10:02:04 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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The music has stopped, and now everyone is rushing for the chairs...only to discover that all the chairs are missing 'cause they were used as collateral for the mortgage.

The Money, Banking, and Financial Markets Ping List.

"Money, not morality, is the principle commerce of civilized nations."
—Thomas Jefferson

FR Keywords: moneylist, bankinglist, financelist

Please tag all relevant threads with the aforementioned keywords.

This can be a very high-volume ping list at times.

Ping list jointly pinged by rabscuttle385 and TigerLikesRooster.

To join the ping list:
FReepmail rabscuttle385 with the subject line add  moneylist.
(Stop getting pings by sending the subject line drop moneylist.)


11 posted on 12/16/2008 10:03:30 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: NYer
We are such a nation of namby-pamby wimps. Whining and crying because we can't have the best and the newest, or because we have to work harder. Boo-freaking-hoo. And guess what. Even if you work hard you may not be able to get everything your heart desires. Its called reality—not everyone can live like a millionaire. Unfortunately, our Lib culture has conditioned the average American to think he or she can have exactly what they want without putting much effort into getting it. Like the guy stealing the tie. There's no psychological issue here—he's a thief. Throw him in jail.
12 posted on 12/16/2008 10:04:33 AM PST by Opinionated Blowhard
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To: bigbob

“followed by a 2x4 to the head..” to help his old ties fit better.


13 posted on 12/16/2008 10:06:30 AM PST by billhilly (Sayonara Detroit)
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To: Chet 99
She has to wear her old clothes?

Many of which she's probably never worn.

14 posted on 12/16/2008 10:07:31 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: NYer

The “stuff”, or materialism, is just a ploy to keep our eyes off God.


15 posted on 12/16/2008 10:08:09 AM PST by MrB (The 0bamanation: Marxism, Infanticide, Appeasement, Depression, Thuggery, and Censorship)
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To: Opinionated Blowhard

I see you getting a notice to report to the nearest ‘re-education camp’!


16 posted on 12/16/2008 10:10:00 AM PST by griswold3
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To: rabscuttle385; NYer

You have turned into a nation of superlative idiots.

Everytime it rains, it’s the storm of the century, the worst disaster since Vesuvius, or some other rubbish.

Calling it a “panic” is in the same style. I would call it an “awareness”.

But “panic” sells more books and prompts more people to sign up for a seminar somewhere.


17 posted on 12/16/2008 10:11:01 AM PST by djf (...heard about a couple livin in the USA, he said they traded in their baby for a Chevrolet...)
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To: DuncanWaring

And she probably can’t fit into them anymore and has kept them in the hopes that she’ll be able to squeeze into them after the next diet.


18 posted on 12/16/2008 10:12:22 AM PST by Opinionated Blowhard
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To: rabscuttle385; Travis McGee; M. Espinola; TigerLikesRooster
What more can I say . . . ?

Click the image for more fun and games.

19 posted on 12/16/2008 10:21:15 AM PST by ex-Texan (Ecclesiastes 5:10 - 20)
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To: djf

Thank you so much!
Truth be told.


20 posted on 12/16/2008 10:24:03 AM PST by netmilsmom (Psalm 109:8 - Let his days be few; and let another take his office)
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