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With Mayo Clinic oncologist Edward T. Creagan, M.D.

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September 25, 2008

From Wall Street to Main Street, financial crisis increases stress

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By Edward T. Creagan, M.D.

"It was the best of times, it was the worst of times." So began "A Tale of Two Cities," the novel by Charles Dickens. Appropriate words for these difficult times on Wall Street as well. News reports clearly demonstrate the tremendous pressures on members of the financial communities. Not only are their assets unraveling but their sense of self worth and identity is unraveling.

We now understand that there is no such thing as the mind/body separation. Spiritual thinkers over thousands of years have told us that as we think so we become. Now, do not get me wrong. I am not suggesting we sit in a dark corner, focus on a candle, and wish away our woes. However, we are better able to weather these financial difficulties and uncertainties by taking care of ourselves physically and acknowledging that the essence of stress is a sense of powerlessness and a sense of being out of control. So, what we can control are our thoughts and our beliefs.

To ruminate over events about which we have no control can certainly set us up for all sorts of physical problems. A figure commonly quoted in medical literature is that approximately 70 percent to 80 percent of patients seeking care from primary care physicians or from internists have conditions either caused by or worsened by stress.

I do not suggest that there are simple solutions, but we would like to hear from you about how you're dealing specifically with the financial uncertainties. What happens on Wall Street certainly affects those of us on Main Street.

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15 comments posted

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October 7, 2008 7:50 a.m.

TAaEL4 I really like this article. However, I do believe that in this day and time we all need a budget plan that is within our means. And live by that, as well as doing alot of praying. May God bless you all!! Thank you, Lisa Ellerbee

- Lisa Ellerbee

October 2, 2008 8:34 a.m.

I try to remember the Litany Against Fear from Frank Herbert's great book DUNE. LITANY AGAINST FEAR I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.

- Miranda

October 2, 2008 7:32 a.m.

I ve tried to ensure that I dont keep all my eggs in one basket. With the stockmarket not doing good now, I'm focusing on real estate. If for one reason or the other it doesn't turn out profitable there too , well, I tried my best in planning for the future. didn't I ? I'm prepared to take it as it comes. Indeed I have no choice! Seriously Im think about redirecting my investments presently to improving the lives of those less fortunate than myself instead of laying up for myself wealth for a tomorrow and in an environment I have no control over!

- Ola

October 1, 2008 9:12 p.m.

Here are some things that help me address stress: -Appreciating objects that are meaningful and enjoyable instead of purchasing new ones continually. Ex: Using a favored sugar and creamer when having breakfast alone, listening to relaxing music at that time helps, too. -Looking out a window until I focus on the view while attending to things that have changed since the last "viewing". -Reminding myself that while I may be powerless in regards to numerous circumstances, I am not helpless concerning my quality of life. -Donate: provide textbooks for a class by buying them through a wholesale distributor, instead of giving money to the school. Doing the administrative tasks involves one in a process that expands their own resources. Sew clothing, quilts, personal objects for a group of folks who need them and ask them to distribute the items appropriately. Commit to providing one (or more) meals per month to a local community center, low-income assisted-living center, or shut-ins whom you know or have been assigned to by a trusted advocacy group. -Try to discern the kind of information that you need to make decisions that you respect, even if their results may not be what you hoped for. -A beloved friend once suggested, "Don't deny fear and it's implications, just don't get stopped by your fears."

- Laurie

October 1, 2008 4:12 a.m.

The financial crisis is worrying. I am in South Africa and our political crisis coupled with the financial one is concerning. However if one invests in the stock market they must understand that it should be for long term and not to make a quick buck. The only thing is to wait it out and things can never remain the same and has to improve. Panic selling is not an option. I had a friend who committed suicide because he gave advice to someone and they both lost all their money in the markets. He still had a job and he could have come out of it eventually and the guilt could have subsided. A young educated man that had so much to live for. Taking advice is your choice to follow or reject and never blame another person for the path followed. Stress management watch an Indian (Bollywood) movie (about 3 hours) that has a love story theme and you will forgot most of your problems. Above all prayer helps to improve a person's self worth and heals all wounds

- stress management

September 30, 2008 7:46 p.m.

I do not agree that God is "in charge." He is not a banker and has given us free will, although the decisions WE make are not always the right ones. All the people who were tied into the stock market were making the ultimate gamble. Just like the people who live on the coasts are gambling that they won't have any hurricanes or earthquakes. Unfortunately life is all a gamble. The more risks we take the more chances of losing. I lost several thousand dollars in three days and there went my trip to London. However, I no longer have any stocks or mutual funds. I am over 70 and cannot wait years until everything rebounds, if indeed it does. Only CD's or bonds from here on in, and I am thankful for lessons learned. I am calmer and sleep better now, albeit paying more attention to my budget.

- Starshine

September 30, 2008 6:08 p.m.

I always try to remember that ultimately God is in charge! No matter how bad things may look, He will take care of us. The news shows blow everything out of proportion and you can stress yourself to death listening to them too much. I just try to do my best and reach out to other people and not worry about things I can't fix. I offer everything up to God and let Him worry about it. I know that's easier said than done!

- Carolyn M

September 30, 2008 5:25 p.m.

"We did it before, and we can do it again." Those of us who lived through the Great Depression are tough enough to weather the storm. When I become stressed, I scour some pots and pans until they shine. Megs is right: stay busy to keep your mind off troubles.

- Roberta S.

September 30, 2008 4:25 p.m.

Our recent monetary crisis emphasizes the importance of FAMILY! Many young people are relying on family members (mostly parents) to get them through this crisis! We are one of them. It is hard to believe that with all the progress in our society we are taking "one step forward and two steps backward", but this recent monetary crisis has proven that. There has never been a time in our life when I can say that "family values have become the "center of the universe". Families are reaching out to one another like never before since the Great Depression and doing it with "love and support" because they believe in each other and want only the best for their family members! May you all have a "family" you can rely on!

- Jane

September 30, 2008 3:12 p.m.

I'm old! I remember going thru many bad, stressful times. Bad stuff happens.Stay busy! Fix what you can-even just a little every day and remember you can't always fix everything. Try to find at least one thing to have a laugh about..preferably with a friend. At the end of the day-go to sleep knowing you have tried your best.

- Megs