Are we the next money-between-the-mattresses generation?

If current economic turmoil has any impression, new data suggests it likely will trend that direction. From an Economist column:

Under identical market conditions, and controlling for age, people who had experienced lower stockmarket returns over the course of their lives put a smaller fraction of their money into stocks than people who had lived, on average, in times when stocks had done better.

And this phenomena is not limited to stock returns.

Part of the explanation appears to be that beliefs are disproportionately affected by lived experience.In ongoing work, Ms Malmendier and Mr Nagel [researchers from UC-Berkeley] also find that people who have lived through periods of high inflation systematically expect future inflation to be higher than those who have not experienced high inflation for themselves.

What else might my peers develop reflexes against? Comment.