Morgan Housel

And by the 1970s, between Vietnam and Watergate, trust in government is going to collapse and we're going to be hanging on by our fingernails to a shred of legitimate government.

People would have said, what?

No, federal government, that would have sounded preposterous.

If in the 1970s, I said, hey, I'm from the future.

By the 1990s, we're going to have balanced budgets and peace and tranquility.

So you're full of it.

But that's what happened.

And in the 1990s, if I said by 2026,

whatever we describe this era as today, maybe back to hanging on by our fingernails, that would have seemed preposterous.

And so I think if you become familiar with the cycles of politics,

Now that's not, I just gave you four examples.

This is not a very deep history.

So it's a small sample size.

But politics is cyclical.

And this is more of a hope than a forecast.

I'm not a forecaster.

But it would not surprise me historically on that cycle trend that if in 20 years we look back at this era as an era that, a generational bottom from which we grew out of.

And I think a lot of these things are self-correcting.

And it stems from the fact that when times are good, you become complacent and nobody cares about good governance.

You just think the system runs itself.