Mood of a People, Mood of a Nation (What was the great depression)

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Looking at things from a wee nation’s perspective that is itself suffering as a whole at present I see darkness I see rain, all around is financial pain. It is in a hole, a big deep one that is bigger than the nation itself, and will likely send the nation falling ever further into the abyss. The circumstances leading up to this hole, have played out their part on the mind’s of the citizens of the country. The country is seen to be depressed, because the people are depressed, why are they depressed? Because the housing market is depressed, the dole queue (social welfare) lengths are depressing. It is only now in poor old Ireland that I can see the more than tenuous link that money seems to have on our mood.

In the Celtic Tiger Years the Economist Magazine polled this little island nation as having the very best quality of living stakes in the entire world, it put us on a pedestal and the people felt they too were on this pedestal. The young and the old took to shoving cocaine up their noses. We took to lighting our cigars with five euro notes, and we took to taking out huge quantities of easy money credit from banks only too eager to throw it out hand over fist to people who really couldn’t afford to pay it back. However time for payback has come and just like what was the great depression in the United States, and the circumstances leading up to it, when the banks called for their money back it wasn’t there to be given back.

I’m surprised that it is only now I understand the relationship between money and mood, looking at Ireland and looking at The United States we both had a ‘swinging period’ before it all came crumbling down. What was the great depression, if it was not about the mood of the people as well as the mood of the markets, there is a link there. When the times are hard, be this either of the nations, when money is tight there is a heightening of the pressures that are faced by the family unit, there is an increase in demands on what little is owned. It may end up that the family unit faces eviction, which brings with it all manner of mental anxieties and consequent depression. What happened in The United States after Black Friday is happening in Ireland now. The people have been robbed by the government who guaranteed the banks turning the private debts of the risk takers into public death of the small population. Each individual is now $32,000 in debt as a result of the signature of a Prime Minister who had no mandate to do so. That is $32k of debt for every man women and child in the nation that is living or will be born in the next 20 years.

Maybe when there was no gain for people preceding this guarantee, that makes things worse. What was the great depression, the one main difference between the Unites States one and the Irish one was that it is those who have done no wrong in Ireland who are to suffer the most, with the people who brought the country to its knees to suffer least. The uncontrollable pressures on the family unit in Ireland right now are forcing the families apart, there are no jobs to be had, the value of what people thought they had after sinking everything they had into a Government fueled property bubble is now worthless. Many have mortgages for half a million on properties now only worth 40% of what they were. Given the interest rate those poor guys will have to pay out a clean million quid on paying the mortgage in full on a property that is only worth two hundred thousand quid. Imagine the cross that is to bear. Imagine forcing your way out of bed each morning at dawn and traversing the depression weary streets, the rain pouring sideways in a cold wind that bites, imagine going into your workplace (If you are lucky enough to still have one) and to have that hanging over your head as you try to earn your hourly rate, counting up each one as a practically inconsequential dent in the debt.

The Irish are in a state of depression overkill currently, they don’t want to read about it, they don’t want to talk about it, they want to be out of it, but this depression will be lasting for generations to come, the impression of the Irish globally as a happy people may not make it through this one intact.

Learn how I beat Depression

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