A bad economy? There are worse things

By: Freesia Singngam

Posted: 10/10/08

Millions of Americans are facing foreclosures and losing their jobs in the midst of an economic crisis. And as if that wasn't enough terrible news, some people are going to extremes in the face of this crisis.

On Monday, Los Angeles police found Karthik Rajaram dead in his home after he shot his wife, three sons, mother-in-law and himself, The New York Times reported. In one of Rajaram's suicide notes, he said that he was "broke." This is a sad story, but what makes it even worse is that Rajaram's eldest son was at the University of California, Los Angeles on a full scholarship, and the other two sons were only 12 and 7. They had a future ahead of them, and it's a shame that their father felt that there was no other option.

And that wasn't the first case. Last week, Fannie Mae set aside the loan of a 90-year-old woman who shot herself as she was getting evicted from her home, CNN reported. She survived her gunshots and will be able to keep her home, but many aren't so fortunate. The Beacon News of the Chicago area reported last month that feelings of depression have been rising because of the falling economy, and there have been a few other cases of suicide in the past year where lost jobs and foreclosure may be to blame.

People are killing themselves both literally and figuratively over this economic crisis, and it's a tragedy on both accounts.

When people decide not to go on a day trip because the price of gas is too high, or when they decide not to go see a movie because they need to save money, the small sacrifices add up. Yes, it is important to keep a budget and live within your means, but what's the point of working if you can't use your earnings to enjoy life? If, God forbid, you lost your job because of the state of the economy, there are lower-paying jobs that you can take temporarily to get by. There are ways to cut spending and still save enough money to have a one-day splurge on a nice dinner or a shopping trip. These special trips or days out create lasting memories.

Not only does cutting all excess expenses hurt people and their families, it hurts the economy in general. The cycle of money starts with a consumer and links to production and jobs.

After the Sept. 11 attacks, many Americans refused to live in fear. But if they stopped everything they were doing, then the terrorists won. While stock market drops are nowhere near as horrific as terrorist attacks that claim thousands of lives, the same attitude should be applied to the bad economy. As important as money and finances are, they shouldn't be allowed to take over our lives. If they do, then the crisis wins, and everyone lives in a state of fear.

The nation is focused on the economy right now with solutions ranging from a giant government bailout to new economic plans from each presidential candidate. Times may be hard right now, but we'll find a way out of it - this isn't the first time America has been in a financial crisis. Money troubles and a bad economy are legitimate causes of stress, but reacting to these problems in ways that hurt yourself or others creates a tragedy much bigger than a stock market drop.