A helpful way of viewing karma is to avoid thinking of it as a metaphysical "other" that happens to you as an economic system of exchange. Thinking in those terms makes it easier for us to pass on the idea of such a system, thinking that it is entirely possible that it doesn't exist at all.
A more constructive way of approaching karma is to think of it in real terms. Karma can be our way of examining the cause and effect of our actions. Actions, whether they are small or extreme, have consequences or outcomes. That is the nature of action; it warrants a reaction, an effect. The sum of these outcomes is what we call karma. In Buddhist thought, karma is believed to be cumulative and can be carried from life to life. But even within a single life, karma can have a detrimental effect.
Misery is a state that arises as a result of karma. Whether it is carried forth from previous lives or it was accumulated in a single life doesn't matter. What matters is that misery is a real state; it is something we all experience, yet not all of us understand it. Only by working toward awareness can we learn about our suffering and how it comes about through karma.
But what can we do? Do we just "let karma get you"?
The answer, actually, is just the opposite. The answer is dharma. Dharma is rooted in both thought and action. It is what we do to work through our karma and, therefore, deal with our suffering. There are many aspects to dharma, but I will not go into detail here, but I will say that it is possible to have it present in every aspect of our lives. Dharma is what we do to reduce our own suffering along with the suffering of others.
To speak to the iPod example, it would be a karmic act to take it. The reasons could be many. Here is a quick list of a few possibilities:
- The owner enjoys the iPod, and that would be taken away
- The owner had worked many hours to earn the money to buy it, and that would be lost
- The owner received it as a gift from a loved one and it has sentimental value to the owner
- The owner shares it with a loved one and would have to explain its disappearance
- The owner is actually a borrower and would lose the trust of the real owner
- The owner has unique recordings, photos, or other data that cannot be replaced and means much to them
- The owner, the host, and others would have to deal with the thought that a guest is a thief
- The owner may find it extremely difficult to trust others as much, especially strangers
- The owner might experience negative emotions that could affect those around them
- The thief would be breaking a law, trust, and common decency
- The thief may possibly need to continue a lie to remain secret
- The thief has obsessed over an item in an unhealthy way
- The thief might feel remorse but might be too ashamed to deal with it
There could be many more. As you can see there is a great number of ways that this act can cause misery to everyone involved, even the thief. This is the reason why the act is karmic. This would be a burden taken on by the thief, being the direct cause of the negative experience(s). Although the thief might not be consciously thinking of these, it is possible that they will think of them subconsciously or over time. This is why we feel guilt. We think about how our negative actions affect others, and we feel bad because we know how others feel.
Many actions are karmic. Some are big, some are small. Over time, we accumulate the negative effects of these actions. But through dharmic actions, we can alleviate that state, helping ourselves while helping others.