Speaker 1
Should have scared people off of this kind of policy, but it didn't. So you've had three years of pain. And now we've had eight years of up where basically one in one can make five any number you wanted, whether you want to talk about real estate, you know, art stocks. So this is a long way of saying people have been trained that, Oh, yeah, you know, these little bumps happen, but they don't last long and they don't remember. So they've had three bad years out of 20. And then remember, and the newer, so you got a whole generation of people don't have any idea that stocks will go down for more than five minutes. And now the last eight or nine years they haven't. So what I'm trying to make a point is it's not shocking to me that so many people believe this nonsense. And you have
Speaker 2
to have real sense of extrapolating the last 20
Speaker 1
years. Yeah. And 20 years is a long time, especially if you're only 30. Yeah. 40. Right. And the thing of it is, is what I've learned is really, really bad policies can persist for way longer than you would think possible. The Soviet Union took seven years to collapse, plus or minus. You know, we see them try over again in, you know, Venezuela, you know, it's been taken a decade for that thing to fall apart. So bad, so I mean, a decade's not a long time in history, seven years isn't, but in measured in people's lifetimes, tens, a decent chunk, seven is a whole lot. And so we have a whole generation of people have no clue about how markets really have worked historically, and they think that we're in some new era. And of course, with human nature, there's never any new years. Right.
