Housel isn’t a perma-bull on the economy — he’s a realist. As an author who just wrote a book titled “The Psychology of Money”, Housel says the big lesson 2020 taught us is to expect surprises.
Even given the best-case scenario with a vaccine, Housel sees profound psychological changes that will shape our behavior as consumers. “I think people for the rest of their lives after this year will probably have a higher propensity to save money because the fear that was struck in them in March when business owners and retirees and everyone in between had a great February and then woke up in March and said, I might be going bankrupt,” he told me recently.
