Catching the economic anxiety bug
Whether they are seeking it out or not, people seem to be digesting unhealthy doses of bad economic news these days, through hysterical headlines, their own bank statements, their investment brokers’ grim excuses or water cooler commiseration sessions.
Even those who still have jobs and who aren’t depending on their life savings to enter retirement aren’t immune, Dr. Anisman said.
All the doom and gloom of the market mentality may be helping make the economic dire straits a self-fulfilling prophesy.
“This is one of the problems of course in the economy is that everybody follows the leader even if they don’t understand,” he said. “Look at yesterday’s stock market. Not much has happened other than to reduce the interest rate, the prime rate … but the stock market suddenly went up 300 points on some ephemeral hope. We have this herd instinct. If everyone is feeling crappy, we feel the same way.”
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