"...we all get to live through the depression they caused."

Not necessarily.

Of course, it could be the Greater Depression

The boomers have the largest amount in retirement savings.
The zoomers have far less.

So, the boomers have a lot to lose, unless they can shift into assets that they know little about.

I tried to tell a person who was into real estate investing to get out his houses, because a downturn was coming, and Comifornia was going to make collecting rent hard. Well, he told me he had good tenants and wasn't worried about a crash. That was at the top of the market…