US Economic Crisis Takes Toll on Mental Health

by Sreeraman on  October 09, 2008 at 3:53 PM Mental Health News
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 US Economic Crisis Takes Toll on Mental Health
The murder suicide of a Los Angeles financial manager who shot dead five members of his family before shooting himself has highlighted the psychological toll of the economic meltdown.

The bodies of Karthik Rajaram, a 45 year old business school graduate, and his wife, three children and mother in law, were discovered at his home in an upmarket gated community on Monday.

In a letter to police, Rajaram said he had been driven to murder because of his dire economic situation: already unemployed for several months, his remaining finances were reportedly wiped out by Wall Street's collapse.

Rajaram's tragic case has become a grim symbol of the US financial crisis. Or as Los Angeles deputy police chief Michael Moore put it, "a perfect American family destroyed by a man stuck in a rabbit hole of absolute despair."

The Los Angeles case came less than a week after a 90 year old woman in Ohio shot herself as she was about to served an eviction notice on the home she has lived in for the past 38 years.

The two harrowing incidents have drawn attention to the mental health impact associated with the most serious US financial crisis since the Great Depression of the 1930s, experts say.

Chicago based psychologist Nancy Molitor told AFP the numbers of people seeking help because of finance related anxiety had skyrocketed.

"In my 20 years of practice I have never seen anything like this, the anxiety is through the roof," Molitor told AFP, estimating she had seen a 50 percent increase in volume of calls.

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