Coping with loss and uncertainty
STEPHEN HEIDEL
San Diego Daily Transcript , Wednesday, November 13, 2002
By any measure, Americans have faced tremendous challenges during the past 15 months, the greatest being the attacks of Sept. 11. With the anniversary of the tragic attacks and the midterm elections just past, many people are reflecting on what they have faced and how they have dealt with it.
Our confidence was shaken and our core beliefs challenged. In many instances, lives were changed forever. Despite these difficulties, Americans try to remain optimistic. This optimism is remarkable when you consider the following:
- War on terrorism Tensions are high between the United States and many Muslim countries as the United States fights a global war on terrorism. Fighting between the Israelis and Palestinians has taken on new meaning. War with Iraq seems likely.
- Poor economy and loss of personal wealth After a recession, the economy is still sputtering. Thousands of people continue to lose their jobs. The bear market has driven share prices lower, taking trillions of dollars out of investors' accounts. Millions of Americans who had retired or were planning to retire soon no longer have enough money to support themselves.
- Corporate scandals Major corporations, including Enron (PNK: ENRNQ), WorldCom (PNK: WCPNQ) and Global Crossing (PNK: GBLXQ) overstated their earnings or committed outright fraud. Arthur Andersen, and possibly other accounting firms, allowed these practices to occur. As illegal acts were disclosed, stock values in those companies nearly dropped to zero and each company announced massive layoffs. In addition, investors began losing confidence in the truthfulness of earnings reports of publicly traded companies.
- Child kidnappings and sniper attacks The kidnapping of 7-year-old Danielle van Dam from her bedroom and her subsequent murder shocked the United States and heightened the fears of parents concerned about the safety of their children. This case is only one of several widely publicized cases of child kidnapping and murder. The random killing by the sniper created terror among people near Washington, D.C.
- Sexual scandals in the clergy Many cases of sexual abuse have come to light, including some that occurred decades ago. As a result, many people no longer feel comfortable turning to their church for solace.
These events have left Americans with a mixture of emotions, including lack of security, anxiety, uncertainty, confusion, depression and sadness. There seem to be more questions than answers. Who can I trust? Is my job secure? How should I invest my 401(k) funds? When will I be able to retire? Is it safe to travel? Is my family safe? Are we going to war?
How we are coping
Although most Americans remain optimistic, there are signs of strain. Many people have genuine concerns about their job security and retirement funds. Many more people are seeking counseling and therapy for personal distress and using medications to treat anxiety, depression and insomnia.
The following are suggestions to help people cope:
- Management should address employee concerns about the financial stability of their company in an honest manner. This should decrease employee anxiety without giving away proprietary information.
- Friends and coworkers should continue to talk about the unfortunate events of the past year. Sharing thoughts and feelings with friends is a good way to draw support from each other.
- Everyone should try to enjoy the moment, rather than being preoccupied with what may happen in the future. This is a lesson we can learn from those who have nearly lost everything, including cancer survivors and recovering alcoholics. They have learned to enjoy today and not worry too much about tomorrow.
- People should realize the bad news of the past year will probably get better soon. Actions have already been taken to address some of the problems encountered. New regulations will eventually protect people from corporate fraud.
- The bear market will end and investors who have lived through the past few years gained wisdom about how to invest their money more wisely as the market recovers. The war on terrorism will disrupt future terrorist acts and new security measures will make our lives safer. Parents will think more about the safety of their children and to take actions to ensure it. The clergy will find ways to rid themselves of the bad apples and set policies to prevent scandals in the future.
- People who are upset and overwhelmed with feelings of anxiety and depression should be encouraged to use their Employee Assistance Program or see a therapist for professional help. As we go about our lives, it is natural to think about the events of Sept. 11, 2001, the sluggish economy and other events that have left us feeling vulnerable. Most people are coping well despite everything that has happened. The American spirit has been tested but not broken.