I think this is just another case of "history repeats itself" People who went through COVID will now have an experience that will shape how they handle this si

I think this is just another case of "history repeats itself" People who went through COVID will now have an experience that will shape how they handle this situation in the future. This generation won't make this same "mistake" again, but a future generation may. Just like how people who grew up with extreme bank instability (i.e. the Great Depression) stashed large sums of money in closets and dressers but we don't. Our decisions are largely based on the context of our experiences. If we don't have a certain experience, it probably won't be a factor in decision making. Of course, you go to school to learn about past mistakes, but (1) There are a billion mistakes that have been made in the past so even if you learn about them, without direct personal experience, you will probably repeat some anyway. (2) In the end, we sort of want people to repeat mistakes because sometimes the conditions are different and the outcome could be positive. What happens when we get old is that we encounter negative experiences that discourages us from trying the same things in the future, which is great for survival but extremely negative for innovation. In the case of someone who grew up stashing money, they might be disdainful of banks and this could actually turn out to be a pretty bad trait. So in the end, it is what it is. Cycles will always be a thing.