The weird psychology of financial crises

Things are always bizarre after a financial crisis because crises pick winners and losers. And the winners don’t “deserve” to win, but often think they do. The losers don’t “deserve” to lose, but they will be condescended to just the same.

You are going to have some middle-class professionals who may come out ahead from this experience. They spent a month day-drinking and watching Tiger King, and not only did they not lose their job, the government gave them money for their coronacation.

And then you are going to have people who lost everything. People who lost jobs or businesses or relationships.

We got the messed up politics we have now because of the impact the 2008 Financial Crisis had on a generation. The Boomers won big, the Millennials lost everything. It’s going to be interesting to see what happens after this.

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