There is an old joke among economists that states:

The problem is as the Times reports that  particularly with the falling value of the pound many pensioners do not have the choice of leaving the country to avoid the economic slowdown.

Millions of British expatriates whose income is fixed in sterling – particularly pensioners or those relying on rental income from the UK – have seen their spending power steadily decline over the past 20 months.  At its peak in 2000 the pound was worth about 1.70 euros, but this week it fell to 1.06 euros. This means that the state pension of 90.70 pounds a week was worth 154.19 euros in 2000, but only about 92 euros today. The current volatility of the pound makes it increasingly difficult for expatriates to predict exactly how much their sterling will be worth.

The other meaning of the word depression is one that may particularly affect seniors as Age Concern England reminds us.

Depression is the most common mental health problem in later life which can often stop people from enjoying spending time with their families. It is often wrongly seen as part of getting old‚ but can be avoided and treated if the signs are spotted early on.  Age Concern England is urging family‚ friends and neighbours to watch out for signs of depression in older people and support them to seek help to get better.

Less us all hope that depression is avoided and that the recession does not last too long.

Footnote: If you are interested in books on Health Care, then why not visit the Health Care section of the Money Bookstore.

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Technorati Tags: depression, Mental health