Tips on coping with the market meltdown
Rule #1: Don't be a victim. Rule #2: Don't wait to be rescued. Rescue yourself.
The attitude that we are all helpless victims of the “system” and that the all-powerful and all-good government is always there to help and protect us from ourselves and all the horrible capitalist oppressors out there is one popular way to look at the current mess. The same politicians who got us into this mess are now actively promising to make all the pain go away so that neither they nor you have to change your behavior at all!
This sensibility permeates the culture to such an extent that it grossly interferes with real psychological health and functional coping mechanisms. In fact, in my profession, it is this type of thinking that becomes the major impediment preventing patients with serious psychiatric and emotional problems from being able to take any sort of control over their own lives.
I was watching CNBC last night with the NYT's Paul Krugman on smirking about how the government needed to bail us out of the crisis. I could sense the glee in his voice when discussing how only government intervention would work. Even Larry Kudlow, a libertarian type was in agreement with him. The only sensible person on was some analyst who kept saying that throwing government regulation and money at the problem was like throwing heroin at an addict. He was the only one who seemed to have any sense although the rest were hardly giving him a chance to talk.
I think the financial crisis is reflective of the election in that we have socialist proposals that are being swallowed hook, line and sinker by the electorate because people are so terrified of standing on their own two feet these days. Everyone is a victim of some evil capitalist. Perhaps voters won't realize until it is too late that playing into the victim mentality could eventually cost them their money, their property, their freedom and their country as we now know it.