A new year is upon us. Traditionally, we use this time to look forward, imagine and plan.
But instead, I have noticed that most of my friends have been struggling to think beyond the next few days or weeks. I, too, have been having difficulty conjuring up visions of a better future – either for myself or in general.
I posted this insight on social media in the final throes of 2025, and received many responses. A lot of respondents agreed – they felt like they were just existing, encased in a bubble of the present tense, the road ahead foggy with uncertainty. But unlike the comforting Buddhist principle of living in the present, the feeling of being trapped in the now was paralyzing us.
I mentioned this to my therapist, Dr Steve Himmelstein, a clinical psychologist based in New York City who has been practicing for nearly 50 years. He assured me I was not alone. Most of his clients, he said, have “lost the future”.
People are feeling overwhelmed and overstimulated, bombarded with bad news each day – global economic and political instability, the rising cost of living, job insecurity, severe weather events. This not only heightens anxiety but also makes it more difficult to keep going.
That makes you old enough to remember when your bog-standard savings account outpaced inflation.
I've gotten laid off so many times and had to cash out my 401(k) just to make rent that I don't believe in anything about the financial system. And Social Security won't exist by the time I'm in my 60s, so what's the point?
honestly I don't think I knew enough about banking to know those times so they were probably around but I was just ignorant of the whole thing. I usually did not have any significant savings (money left soon enough after making it) until well after college so was generally looking for no fee checking.
I once sold sweepstakes tickets for my choir to Charles Keating's wife (Look him up if that's not familiar.) as she was coming out of the store. I think she just wrote a $400 check off the ACC account. Still, that was a lot of sweepstakes tickets, and I had no idea who she was.
I was just a choirboy, after all.
I did not recognize the name but certainly recognize the first in the pendulum of deregulation crises.