Current Financial Crisis

I saw this advice in a recent health email I received. Thought there was some very good advice here. We all need to have the confidence that "this too shall pass".
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But there may be a silver lining in this cloudy sky. Experts have the following advice to help cope and lessen anxiety:

Frank Farley, a professor of psychological studies in education at Temple University, said the four "C's" can help people cope.

Stay calm. "Don't panic. People who panic do very dangerous things in their life," Farley advised. "Some amount of anxiety is healthy, because it motivates you to do things, but too much anxiety can interfere with your ability to think straight.

Be cautious and careful and have confidence. "We have gone through financial crises and recessions, and we have always come out of them," Farley said. "Have confidence that we will again. It's that confidence multiplied 300 million times that will get us out of this. This whole meltdown to a large and significant degree is fueled by psychology."
Take media reports with a hefty dose of salt. "I sure wish some of the pundits would shut up," Farley said. "We have the specter of the Great Depression, and it fuels fear and panic. This nation has survived incredible things." Ruge reported that many clients are going on a "media fast," refusing to read or watch news reports and refraining from checking the stock market averages except occasionally.

Do something. "Translate your worries into action," Klapow recommended. "Any small action that will control some of your finances will be very productive for reducing anxiety. Focus on what you can do."

Maintain a life balance. "If you become consumed with all of the financial information coming out, you will drive yourself physically and emotionally into the ground," Klapow said. "It's important to eat right, engage in pleasurable activities, and strike a balance between attention paid to the financial crisis and attention paid to your well-being."

Take stock of your life. "It's time to reassess how you handle money and how you handle your life," Farley said. "If you get laid off or have a reduction in hours, maybe this is a time to consider, are you happy in this line of work anyway?" Farley said.