Oct 13, 2008 7:20 pm US/Eastern
HealthWatch: Depression And The Economy
Wall Street Collapse Has Impacted Americans In More Ways Than Simply Depleting Their Retirement Funds
NEW YORK (CBS) ―
More than 18 million Americans are affected by depression yearly, and our economic crisis is only making matters worse.
But knowing the warning signs and what to do about them can make all the difference.
If you can't afford to pay and you can't afford to eat, there's nothing happy about that.
"It wouldn't surprise me if the economic depression caused emotional depression," West Side resident Tyler Ross told CBS station WCBS-TV in New York City.
Don't be surprised. It's happening at an alarming rate.
"Over the last few days, I've received, let's say, a half-dozen calls from people who are anxious or upset or depressed, saying they've lost 20, 30 percent of their retirement funds," said Roosevelt Hospital psychiatrist Dr. Gary Lefer.
Without question the economic crisis is taking a toll on America's mental health.
"For a small percentage of people, economic disruption provides opportunity, but for most of us it provides anxiety and stress -- and in some instances, for those who are prone to depression, it can trigger a depression," Dr. Lefer said.
Feeling sad for a few days is normal in light of stressful circumstances, but for those who are prone to clinical depression, financial strain can trigger serious symptoms.
"There can be uncontrollable crying, chronic problems with insomnia and episodes of anxiety," Dr. Lefer said.
A study by the American Psychological Association revealed that 52 percent of Americans are lying awake at night – and worries about finances are one thing that prevents shut-eye.
"It's very difficult mentally and physically," one New Yorker told WCBS-TV.
Some say the solution is simple.
"Don't become depressed," said Serena White of Harlem. "It's not worth it."
Others suggest being patient, and that things will get better with time.
Experts recommend spending more time with friends and loved ones during high stress times, and taking time out for activities you enjoy.
But don't ignore a serious change in mood.
"If it's more persistent, tenacious, then I think it's worthwhile seeking some consultation," Dr. Lefer said.
White said if the economy is getting you down, fight back.
"We've come back from tougher times and we will survive this and bounce back as well," she said.
The most common time in a person's life for depression to strike is between the ages of 30 and 40.
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