Nostalgia is only appealing because retrospectively, we know how things in the past panned out. The here and now is scary and unpredictable, just as it was back then.
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The warning signs were there, somebody tried to stop the break up of the Soviet Union 1991, somebody tried to blow up the WTC 1994 and the banking sector had an unsustainable operating model.
I agree but hindsight suggests that it was a false calm so the nostalgia is tainted by what has happened since. I look back at the 90s fondly because I was in my prime
I think it's more to do with the fact that every era produces good stuff that should be preserved. Plenty of shit happened or was produced at the same time which we're happy to forget.
Nostalgia for a very specific thing or event that evokes strong, positive emotions is acceptable, whereas the generalised 'everything was better in that period' viewpoint is equal parts bitterness and misery fuelled fantasy
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In the present it’s difficult to exclude the shit stuff.