Morgan Housel

We can kick these bums out and do it.

And that's what happens.

And so...

Look, the nightmare scenarios that maybe you are more tuned into are possibilities.

I'll never discount that.

And you can't because it's happened to a lot of countries that really went over the edge.

Germany, Italy, that really latched onto it and went straight over the edge and destroyed themselves in the process.

That's happened.

It could happen here, of course.

It would not be my first guess of what's most likely to happen.

I think what's most likely to happen are

several more years of this kind of bullshit, however you want to define that, and whatever side you're on, you're unhappy about it.

And in 20 years, you look back and say, look, we actually kind of got our act together after that, and things calmed down a little bit.

I could think of several examples of why that would not happen.

Social media makes it much more difficult to happen now than it did in the 1970s, et cetera.

In 1970s, everybody got their information from Walter Cronkite.

Now everybody gets their information from their own little custom bubble.

So it's a very different era, right?

Or impact theory.

So it's a very different era.