Economic distress

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Astronuc
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Main Question or Discussion Point

There have been reports of increased domestic violence and child abuse in parts of the country.

Apparent suicides and homicide/suicides which may be related to the economic problems.

Police investigating death of Freddie Mac official
http://news.yahoo.com/s/ap/20090423/ap_on_bi_ge/us_freddie_mac_official_dead_43 [Broken]

FBI probes finances of man believed to kill family
http://news.yahoo.com/s/ap/20090423/ap_on_re_us/us_hotel_bodies [Broken]


Countries trying to cope with severe global slump
http://news.yahoo.com/s/ap/20090423/ap_on_bi_ge/us_world_economy [Broken]

"What's happening at this moment is that ... capital is drying up for the poorest countries," said Marita Hutjes, Oxfam senior policy adviser. "We feel it's part of the responsibility of the rich countries where the financial crisis originated to actually address that problem."

Underscoring the extent of the challenges, the IMF released a new economic forecast Wednesday that projected that the world economy would fall by 1.3 percent this year, the first decline since World War II, and what the IMF called "by far the deepest global recession since the Great Depression."

Private economists said an output decline of that magnitude would leave at least 10 million more people jobless around the world.

Global recession worst since Depression, IMF says
http://finance.yahoo.com/news/Global-economy-is-expected-to-apf-14996307.html [Broken]
The IMF's outlook for the U.S. is even bleaker than for the world as a whole: It predicts the American economy will shrink 2.8 percent this year, the biggest decline since 1946.
 
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  • #2
Vanadium 50
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If one were to attack this scientifically, one would ask if there is a statistically significant increase in these incidents, and if and only if this is true, investigating the cause. I don't think the media has done step one of this - they have found some anecdotes and are leaping to conclusions.
 
  • #3
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If one were to attack this scientifically, one would ask if there is a statistically significant increase in these incidents, and if and only if this is true, investigating the cause. I don't think the media has done step one of this - they have found some anecdotes and are leaping to conclusions.
It is a bit early to do a statistical analysis. The media has only reported the tip of the iceberg regarding economic stress. Most of the incidents involving suicide and contemplated suicide in relation to economic stress are local. They don't make the national news.

Calls to suicide help lines are up. The Grassroots Crisis Intervention Center in Columbia has seen a 15 percent increase in calls this year from people who feel suicidal. In February, the center recorded a 300 percent spike over February 2008 in calls from people who said money was the main cause of their distress.[/QUOTE]

http://www.baltimoresun.com/news/local/bal-te.md.strain23apr23,0,453118.story

http://www.dailyfinance.com/2009/04/22/when-economic-stress-proves-too-much/
 
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  • #4
turbo
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A county sheriff from eastern Maine was interviewed last night on the local news in conjunction with a story about a woman he had served eviction papers on. She had medical bills and no insurance, and she failed to qualify (by about $30 according to her) for low-income guidelines at the hospital. She took out a mortgage on her house to pay the medical bills but ongoing problems made it impossible for her to keep up the mortgage payments and the mortgage company foreclosed. The sheriff said that his department had served more eviction notices in the first quarter of this year than in all of last year.

Situations like this are playing out all over the country, and it would be impossible to try to keep up with them all in real-time because the conditions are so fluid. We may know the effects of job-losses, uninsured health problems, and home mortgage foreclosures eventually, but it will come in the form of a post-mortem a few years from now.
 
  • #5
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Does anyone recall the movie "Falling Down", with Michael Douglas?

Unfortunately, this type of trend often follows regional or industry-specific economic crisis. The recent increase in gun sales is not reassuring in any way.

Family, friends and community are very important in troubled times.

I'm going to lose of few of you with this comment, but...this is why I happen to like Glen Beck...when you cut through all of his "stuff"...his underlying message is don't depend on the government or a company...think for yourself, help yourself and focus on family, friends and community.

The way he gets to the point is absolutely debatable, but I think the final message is valid.
 

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