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Fast forward to 2008, when the stock market crash resulted in widespread upheaval. Over 65% of the population was invested in the stock market, and the fallout rippled well beyond Wall Street. Many pension savings were drastically affected, leading many to lose their life savings. The American public's relationship with investing was now irrevocably altered, but the inclination to return remained strong.
While participation dropped following the crisis, it still hovered above 50%. Americans persisted in exposing their finances to the volatility of the market, often unaware of the risks involved.
The Rise of Gambling Culture: A Shifting Paradigm