Human Toll Of The Financial Crisis In US, Europe And Asia

by Trendy

The ongoing financial crisis in the US and Europe is spreading to Asia and affecting humans across the globe. Stocks have been battered on Wall Street and consumer spending along with consumer confidence has hit an all time low. We are now beginning to hear the real effects of this financial crisis and things are not looking good. Whether the bottom has been reached, no one knows.

Tough economic times mean a lot of folks are facing huge monetary losses in their businesses, investments and retirement savings. People need to be patient and ride the tough times. Good times will eventually bounce back. But some people have resorted to drastic measures in the face of huge losses and debt.

Here are a few incidents that were a direct result of the economic meltdown.

Karthik Rajaram Kills Son Krishna Rajaram And Family At Porter Ranch Home

This incident sent down shivers across the United States. An upper middle class family was the first casualty of the economic crisis. Karthik Rajaram was an Indian immigrant with an advanced financial degree from UCLA. His son, Krishna Rajaram, was also a student at UCLA. Karthik Rajaram was unemployed and shot his entire family before killing himself. He was said to have suffered huge financial losses and was unable to cope with tough times before deciding to take this extreme step.

90 Year Old Ohio Woman Shoots Herself In Foreclosed Home

Addie Polk is a 90 year old woman living in Akron, Ohio. The senior citizen attempted the extreme step of shooting herself after her home of many years went into foreclosure. Sheriff Deputies were at her doorstep to evict her from her house, when Polk decided that she would rather shoot herself and die than leave the home she had shared with her deceased husband. Polk was rescued by a neighbor and survived the injuries caused by her shotgun. Fannie Mae, which had the loan on her house, decided to set aside her loan and give her back her home after the incident caused an uproar across the country.

Indian Family With 72 Pending Credit Card Payments Commits Suicide

An Indian family in Borivili, Mumbai was left battered after being late on payments of 72 different credit cards. Yes, 72 credit cards!! The son Sudhir and daughter Suchitra were the owners of the credit cards along with a huge loan that was taken to start a dairy farming business. Unable to cope with the repeated calls from the banks to pay up, the duo decided to kill their mom, Shyamal, and dad, A K Nair, before killing themselves. The entire family was found hanging from their ceilings. For more on this story, go to this TimesOfIndia article.

Husband Wants Divorce From Wife After Huge Losses In Stock Investments

A woman in Ahmedabad, India has lost more than Rs.30 Lakhs (about $14,000) and is facing problems in her marriage. The woman was investing in the stock market while being a housewife. The husband was happy as long as she was making money while sitting at home. But when hard times hit and the family started seeing their investments go down, the husband lost it. He now wants to separate from his wife and does not want to shoulder her losses. The wife is now seeking psychiatric help to deal with the emotional problems and stress. More on this story here.

Patience Needed During Tough Times

I did not mean to depress my readers by mentioning all these sad stories. What i am trying to say is that people should not take these extreme steps without even trying to fight tough times. Life has its ups and downs and so does the economy. Good times always follow the bad times and vice versa.

Patience is the key ingredient for surviving such tough times. Try to cut down on your expenses and save as much as you can for another rainy day. You will be amazed at how much you can save by just using Mass Transit and eating at home. Eating out and driving your cars are one of the biggest expenses of every family.

Seek help if you think you are unable to deal with the economic situation. Talk to friends and family about your situation. Some loved one might have money to lend and help you out. Moreover just talking about it with loved ones will reduce some stress and pressure.

I don’t know why i decided to write this post. After i read about these bad incidents, i have cut down on some of my expenses in order to never face anything like this. Hopefully, someone will benefit from this too.

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