Coping with economic crisis

Ruel Reid, GUEST COLUMNIST

The entire world is in a financial and economic crisis of a magnitude and complexity perhaps worse than anything we have ever experienced.

Many of the major economies of the world are still trying to get back to pre-recession levels, such as the United States (US), the United Kingdom, Italy, etc.

What is important for us to remember is the fact that we have had to deal with global crises before:

In 1990, we experienced an oil crisis after the Gulf War.

In 1985, we saw our alumina market collapse.

In 1982-83, the US economy went into recession, and at that time we here in Jamaica felt the full brunt of it too.

Now we are facing renewed tension between the US and Iran and resulting spike in oil prices, reminiscent of the 1970s.

And guess what? We made it through. We survived. In fact, some people did more than just survive - some even thrived, some made a fortune.

So this time in history is both a threat and an opportunity.

Many Jamaicans are feeling increased stress related to the current economic climate. Economic stress is taking its toll on our emotional and physical health. This is further exacerbated by persons in multiple relationships, having to care for too many children and households. A stable God-fearing nuclear family is best.

This stress manifests itself in:

irritability and anger

fatigue and sleeplessness

self-medicating by overeating or indulging in unhealthy foods.

Most of us are worried about providing for our family's basic needs. It appears that stress is a chronic condition that has been exacerbated by the increasing economic pressures that families are feeling.

In addition, the overall stress of the economy leaves parents and families concerned about their ability to take care of their children and provide for their basic needs.

Children, in turn, begin to feel this stress as well. Many teachers across the system have seen this increased dysfunctionality in our classrooms over the period. We have had to strengthen our welfare and counselling department at Jamaica College to deal with these emerging challenges.

socio-economic stress

With stress comes an increase in mental-health symptoms. Research has supported that socio-economic stress is related to higher levels of psychological distress. According to an online article in Newsweek, not only are individuals likely to experience more symptoms related to psychological distress, but these symptoms can also:

weaken the immune system,

disturb sleep,

increase appetite,

raise blood pressure and

lead to unhealthy habits.

Our bodies are wired to feel the stress and come up with solutions and solve it. When uncontrollable stress hits, that's when the stress system starts to go into overdrive.

Researchers are making progress in understanding the interplay between stress and overall health. Stress is no longer seen as an isolated emotional issue but, rather, as an integral part of the body's response to dangers and threat.

According to Karina Davidson, a clinical health psychologist at the Columbia University College of Physicians and Surgeons, our bodies can typically handle exposure to short-term stress. We are physiologically wired with adrenaline to get us to fight or to run or to debate vigorously for short periods of time. When the threat passes, the body wants to slow down and rest.

But, many modern stressors, such as the continuing economic crisis, are not short term. They can go on for months or even years. And it's that long-term exposure that increases the risk of long-term problems.

In the context of the family, it is the parents who bring home the consequences of the insecure labour market and who carry the primary responsibility for making adjustments at home. As a result of economic pressures, their adaptation capacities are challenged and their mental-health resources are taxed.

Parents may:

have difficulties making decisions;

suffer from a loss of self-esteem in carrying out their responsibilities; and

feel a sense of failure at not being able to provide for their family.

When parents experience such difficulties, their marital relationship can also suffer.

abuse and neglect

Parents may have a more difficult time rearing children because of their own stress and the stress that is present in their relationships as a result of economic stress. In fact, the incidence of abuse and neglect in children typically rises with increasing economic stress. Children are often vulnerable in an economic downturn because their parents may translate the stress of their financial situation into relationship difficulties with their children.

In addition, children are often confused by the impact of a negative economy. Some children may tend to blame themselves for the increased stress at home. Or they may have to take on adult-like responsibilities before they are developmentally ready to do so in order to help support the family.

So what can you do to protect yourself and your children?

The first step is to learn the warning signs of stress, the physical symptoms that indicate that your body is reacting to unusual pressure. Everyone responds differently. Some people get headaches and muscle pain; others have trouble staying or falling asleep. Think of these symptoms as a kind of language; they're your body's way of telling you that you need to change. And in order to change, you need to respond in the same language.

Physical exercise is also useful in young children and adolescents. Get them moving and doing something active to stimulate feel-good chemicals in their brain.

Maintaining supportive social connections is particularly useful during times of prolonged stress. It is important to keep your social network friendly, positive and large. Our close relationships should become paramount while working through economic problems.

In hard times, parents need to reassure children that they are safe and will be cared for, no matter how the family is affected by the economy. Even newborns respond to adults' emotional stress.

Many doctors today may simply prescribe an anti-anxiety medication or an antidepressant for stress. While medication can be very helpful, research has shown that a combination of medication and talk or behavioural therapy is the most effective treatment.

Here are a few additional tips for parents:

Prepare children for what's coming. Parents can talk with their children and teens about the family stressors to allow them time to adjust to changes. But parents also should censor what they say and shouldn't burden their children with adult worries and concerns.

Hold family meetings. A weekly family meeting during hard times to explain how the family is being affected can help children see that the family has a plan to deal with the new stressors. This reassures them that despite the circumstances, their parents are doing everything they can to work through the changes in the family.

Limit children's involvement in decisions. Don't ask them to help make adult decisions that are beyond their capabilities or developmental level.

Consult an expert. Get help from a paediatrician, community mental-health worker, church pastor or school counsellor if it's needed.

Peer parenting groups: Form groups of parents to help each other. Let's go back to the days when the community took care of each other and help raise each other's children.

Now on the home front, there are some measures that have been proposed that families can benefit from:

NHT special programmes - suspension, reduction, rescheduling, extension of mortgage payments;

Income tax relief due to increase in the tax threshold;

Retraining opportunities from HEART Trust/NTA;

Private mortgage institutions will consider arrangements and lower mortgage rates and, of course, competition of portability, where you can move to where the rates are lowest;

Small-business loans from lending agencies, private placements, and junior stock market with IPOs;

Small-business loans from Jamaica Business Development Corporation and credit unions at 10 per cent for the production of goods or provision of services (not trading);

Opportunities to access government procurement (15 per cent of all government procurement to go to small businesses an micro enterprises);

There is scope too for diaspora support;

Internet marketing;

Social networking.

Above all, let us remember the words of Jesus: "Cast you cares on Him, for He cares for you." He has promised never to leave us or forsake us and he will provide for all our needs.

Let more of us who have means create opportunities beyond the announced JEEP to uplift the poor and take care of those less fortunate.

So let us draw on the strength of our heavenly Father, who assures us that He will take care of us!

Ruel B. Reid is a Christian nationalist and principal of Jamaica College. Email feedback to columns@gleanerjm.com.