hey readers my name is grow with guru and i will talk about some of my past stories and in last we will talk about conclusion okay let's start today's story
The stock broker who lost everything during the Great Depression experienced something the tech worker basking in the glory of the late 1990s can't imagine
The Australian who hasn't seen a recession in 30 years has experienced something no American ever has.
On and on. The list of experiences is endless
You know stuff about money that I don't, and vice versa. You go through life with different beliefs,goals, and forecasts, than I do. That's not because one of us is smarter than the other, or has better information. It's because we've had different lives shaped by different and equally persuasive experiences.
Your personal experiences with money make up maybe 0.00000001% of what's happened in the world, but maybe 80% of how you think the world works. So equally smart people can disagree about how and why recessions happen, how much risk youshould take, and so on.
In his book on 1930s America, Frederick Lewis Allen wrote that the Great Depression ''marked millionof Americans inwardly for the rest of their lives.'' But there was a range of experiences. Twenty-five years later, as he was running for president, John F. Kennedy was asked by a reporter what he remembered from the Depression. He remarked:
I have no first-hand knowledge of the Depression. My family had one of the great fortunes of the world and it was worth more thanever then. We had bigger houses, more servants, we traveled more. About the only thing that I saw directly was when my father hired some extra gardeners just to give them a job so they could eat. really did not learn about the Depression until Iread about it at Harvard.
This was a major point in the 1960 election.How, people thought, could someone with no understanding of the biggest economic story of the last generation be put in charge of the economy? It was, in many ways, overcome only by JFK's experience in World War II. That was the other most widespread emotional experience of the previous generation, and somthing his primary oppenent, Hubert Huphrey, didnt have. The challenge for us is that no amount of studying or openmindedness can genuinely recreate the power of fear and uncertainty.
Conclusion
Everyone is different, Everyone has their own preferences, but no one is crazy,