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DOCUMENTARY Why do we live from today to tomorrow?

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Published on Oct 6, 2022

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"Why do we live from today to tomorrow? The complicated history of Romanians' relationship with money", realized by Panorama.ro in partnership with McKinsey Romania, started from the desire to understand why Romanians are so financially unstable and when they have money and when they don't . Great economic crises fundamentally change the way we live and produce effects years after they have passed. Laws, mentalities, consumption and saving patterns are changing. For Americans, the "Great Inflation" of the 1970s and Black Monday of 1987 were such moments. For the Germans, it was the fact that the beginning of the 2000s caught them as the "sick of Europe", with an economy that no longer performs as it did in the past. Japan had a "lost decade" starting in 1991, and China decided to become the "factory of the world" following the five-year plans and extreme poverty of the Mao era. However, if we had to choose a single economic "earthquake" from Romania's recent history, which would it be? Which of the financial traumas of the last 50 years dictate the way we relate to money and the future today? Because, when we talk about these two constants - money and the future - Romania really is different. A Romania from today to tomorrow. We spend a lot, impulsively and stupidly. We have no plans for retirement, although it is clear to us that we will not be able to support ourselves on the money we receive from the state. We don't save even when we could afford to. We don't trust banks, but we are leaders in cryptocurrency gambling and investing. We are a nation of extremes, dominated by excessive fear of the future and the mirage of overnight gains. We cannot choose a single economic crisis responsible for the way Romania looks today. In the last half century, they have followed each other with dizzying rapidity. In fact, the only periods of relative economic stability totaled less than 10 years in the analyzed period. The queues and the cold of the 80s, the shock of the Revolution, inflation, the devaluation of the leu and the unemployment of the 90s, pyramid schemes such as Caritas and FNI, loans with the bulletin, real estate crises and IMF-driven austerity, all against the background of a huge exodus of the labor force work, they shaped the Romania we live in today. And all of this still dictates our relationship with money and our own future.

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