October 22, 2008
The Recession: Opt Out of the Negative Psychology for Emotional and Material Well Being.
Dr. Neill Neill
Refuse to Participate
In the midst of a possible recession in the US and around the world, the fear out there is palpable. The economy is affecting everyone in daily living. What can be done?
Many people are making decisions out of panic. Some are selling their retirement investments. Others are like the deer in headlights: they are frozen in their fear. They are unable to continue with holiday plans, house purchases, renovations, vehicle replacement and even dinners out.
As the media bandies about the "R" word, there are reports of people even failing to purchase required prescription medications.
It is true that in the economic meltdown there will be increased bankruptcies and downsizing? There will be displaced executives and workers at all levels. Some are losing their homes. Eileen and I lost our home in a business failure during a recession once, so we know what that is like.
However, most people in Canada and the United States will continue to be able to make their mortgage or rent payments. Most will keep their jobs and be able to support their families. Most retirees will be able to maintain their lifestyle with little change.
To pull a figure out of a hat, if 20% of the population is materially hurt in the turmoil, 80% is not. The problem is that 80% of the population is severely hampered by fear and anxiety, while 20% is not. The 60% in between who are not materially hurt, but are overly anxious and cannot sleep, are participating in the recession and driving it deeper.
The 20% who know they will be okay continue with most of their lifestyle plans and refuse to participate in the fear. They choose to opt out of the recession. This group includes people from the well-off retiree to the cashier in the local grocery store. They recognize the economic volatility for what it is. They go ahead with their planned TV purchase.
They form the group who has opted out of the recession.
The biggest challenge for those emotionally hampered, but not materially affected, is that to opt out of the economic recession, they must reduce their stress levels before they do something stupid and cause themselves real material harm and even more emotional suffering.
Understand that a brain loaded with stress hormones cannot think rationally. Blood flow to the frontal cortex is restricted. To put it bluntly, stress makes you stupid.
Financial advisers are reporting being flooded with shell-shocked investors. Their principal job these days is reassuring their clients that they will be okay in the long run if they stay invested.
However, the job is not over with simple reassurance. Many normally mentally-healthy people are taking the next step and going to a professional who can help them reduce irrational stress and regain some clarity and perspective. Some financial advisers are forming liaisons with psychologists and other professionals to give their clients the best chance of re-stabilizing.
There is no question that a minority of the population will be financially devastated. As a society, we must help these people. However, if you are not in that minority, I would encourage you not to participate in the psychology of it.
Do what you need to do to get out of that negative psychology and join those who, upon reflection, have chosen to opt out of the recession.
Psychologist Dr. Neill Neill maintains an active psychology and life-coaching practice on Vancouver Island, BC, Canada, and is on the treatment team at Sunshine Coast Health Centre, an addiction rehab centre for men. He is the author of Living with a Functioning Alcoholic - A Woman’s Survival Guide. Get on his list for notification that he has posted a new article and receive his free report, "Personal Change."
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3 Comments »
Paul McIsaac :
Nice article, Neill! Timely and a good heads-up, especially for those in the 60%. Perhaps you have seen the article from USA Today on this topic at http://www.usatoday.com/news/health/2008-07-22-mental-health-finances_N.htm?loc=interstitialskip I am currently writing a piece for PR Living and might want to use a quote or two from your article (credited, of course). Is this possible? Please feel free to contact me about it. Paul McIsaac
Lis Farrell :
I too agree with you Neil and appreciated your article. During the election there was so much fear mongering, particularly from some of the politicians, that people need to take a step back, give their head a shake and look at their own situation to see, how affected they really are after all.
Lis Farrell
Tony White :
I absolutely agree with you Neil. The power of WORDS sent out into the universe can be a positive or negative force. For me, our thoughts and actions dictate our future. I for one am not buying in to the gloom. Nonetheless, it is difficult to filter out the negativity we are daily exposed to. More articles like yours need to be made public to create a groundswell of positive energy.
I recently read Julie Salamon’s “Rambams Ladder”. It’s a meditation on generosity and why it is neccessary to give. In it she reflects on the horrific 911 attack on New York. One act of terror by a few misguided human beings is not only balanced but overshadowed by 10,000 acts of kindness on that day (and every day),yet the acts of kindness are rarely given credit.
Perhaps we need a World Kindness or Generosity Centre to publicly report the 90%(?) of us who daily put self above others as an integral part of our humanity an keep our world focused on LIFE with all it’s hopes and dreams.
I recently joined Rotary International as a way to give back. The wonderful charitable work Rotary accomplishes at home and internationally is but one example of positive vibrations beings transformed from thought to action.
As the economy falters rumour has it the next to be hit will be worthwhile charities; something the 80% of us not affected need to consider. One positive step could be to reach out and transform this economic challenge into a spiritual opportunity by becoming more generous; to fill the void with the joy generosity brings to the giver and receiver. Just a thought!