admin

First Posted on August 18th, 2011 by alisonball

I am not looking at the current market situation from an economical point of view as I am not an economist; however I can recognize panic when I see one.

The situation in Australia seems to me to be much healthier than is the situation in other countries in the world. At least here, according to a report by the banks a couple of weeks ago, (the ABC news) the ordinary person becomes more conservative with their money and tends to save rather than spend. In some other countries people can go the other way round and spend the money that they do not really have.

However, have we gone a bit too conservative? Are we retracting too much? Are we influenced by panic and therefore rush into quick actions that may contribute to an experience of a domino effect?

When we are affected by panic we lose our thinking and are swept by a tsunami wave of emotionality: fear, worry, doom and gloom to name only a few. We can’t hold on to hope. We try desperately to cut our losses, act quickly in order to get rid of the terrible panic feelings and in years to come we may realize that we acted in haste.

We need to remind ourselves to calm down. We can help ourselves by vigorous physical activity, relaxation techniques, breathing and meditation. We can talk to friends or a therapist and work through the panic to restore hope.