Jun 10
Currently, there are between 10 and 16 million people in severe debt in the U.S. The economy is weak, the housing market has been beat up, and gas prices are outrageous. Companies are laying off employees left and right, and the financial stability many people once relied upon is fleeting. With mounting debt, comes mounting stress, and as we all know, higher stress levels can cause many health issues. Doctors are reporting more and more cases of ulcers and psychologists are reporting more cases of anxiety than in recent years. The health issues commonly being reported are things like depression, heart attacks, and severe stomach problems. And according to an AOL index poll, debt related stress was up 14% in 2007. The poll, which was taken by those who reported high levels of debt, also revealed that 27% had ulcers or digestive track problems as compared to only 8% of those with low levels of debt stress. In addition, 44% had migraines or other headaches as compared to 4%. Twenty-three percent had severe depression compared with 4%, and the list goes on and on. People report feeling “desperate” and not being able to sleep or concentrate. Medical research suggests that most of the symptoms are pretty typical of chronic stress. The body reacts with a “fight or flight” response, releasing adrenaline and the stress hormone, Cortisol (which is also responsible for belly fat). If the body stays in this state too long, it can wreak havoc on the immune system. So what is the answer for those who seem to have no way out? Health experts offer their advice by suggesting the following steps to try and de-stress your life: First, consider debt consolidation; it is the number one way to reduce credit card debt and if applicable, is a good option for those who have mounting credit card debt. More and more people are using this option to slowly and surely get out of debt. Next, experts suggest having a friend to confide it, or a good social outlet, helps to alleviate some of the fear involved with being in debt or having financial troubles. Often just talking about it to someone can make you feel better. And lastly, find ways (preferably cheap or cost-free ways), to de-stress such as taking a walk, listening to music, or playing with your pet or kids.
What most people need to be aware of, is the fact that there really is no “quick fix.” Since the economy, housing, and job markets didn’t tank overnight, it can’ t be fixed overnight. Yes, it will take time for this economy to recover, and recover it eventually will. But in the meantime, hang in there everyone!
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June 10th, 2008 at 7:01 pm
To benefit the general economy and the freedoms we enjoy, we need policies that will enable more low income families to send more of their children to vo-tech centers and to university. The low and moderate income people are the “weather boarding” for any economy. If we do not enhance this protective weather boarding, the house of democracy and economic growth will be more vulnerable to diminished freedoms, and slower rates of economic growth. When the lower income people have good and growing incomes our economy and our democratic society will be protected and enhanced. The economy will grow for two reasons: 1. the lower income families spend a higher percentage of the dollars they receive, generating a higher level of consumer demand, and 2. they send better educated, (and more productive) workers into the work force, raising the overall productivity of the entire economy.
I hope the Gorilla will look for opportunities in his daily comments to bring more lucidity to this idea, i.e., if he agrees with such reasoning.
June 11th, 2008 at 6:48 am
That energy and food prices are removed from the cost of living index is just unconscionable. Should we remove health care from the inflation index also? Statistics can be made to prove anything. The inflationary cost of food and energy slow the economy without the Fed raising interest rates. Raise the interest rates and the sector which caused much this calamity, the banks with their packaging and repackaging of loan portfolios, are the new winners.
June 26th, 2008 at 6:36 am
As one who forecast this economic morass four years ago, I am very concerned that in our rush to demand that government “change”, or “do something” to ease our collective pain, we are in great danger of doing lasting damage to our economic engine which could forever diminish the freedoms and hopes of future generations. Once more we see our greatest vulnerability arises from within and not from without!