Morgan Housel

The 80s and 90s are going to be an era of political stability and political faith and trust in government.

It's insane.

It's always when things are the lowest –

that you feel like you're never going to recover.

But if you understand how cyclical things can be, it's usually the case that looking back, you're like, man, it was bad.

But looking back, that was the bottom.

And I have no idea if the bottom was yesterday or if it's going to come 10 years from now.

But I would bet that the most likely scenario whenever that bottom comes is that we will look 15 or 20 years back and be like, that was terrible.

And at that moment, everyone assumed it would go on forever.

But looking back, that was actually a bottom.

When enough people came together and said, stop, stop, this is too much.

The forces, we've gone too far in the other direction.

We need to come around from them.

It is always impossible in real time to wrap your head around that and to forecast it.

It's only looking back that you're like, yes.

That there was the bottom.

And you can see things getting so bad.

Trust in government is so low.

Polarization is so high.

They would not surprise me in the slightest if we look 20 years from now and be like, oh, things got better.