"It's a common enough psych term," I told him. "All of us shrinks talk about VFC when we get together." This indicates that VFC is a recognized concept among psychologists or mental health professionals. It suggests that discussing such terms is part of their professional communication and understanding.
The speaker seems to express a sense of frustration or disbelief about VFC, calling it "Very fucking crazy, Gerry." This shows that VFC is associated with extreme behaviors or mental states that professionals might find difficult to comprehend or manage. The quote highlights both the familiarity of the term among experts and the potentially disturbing nature of what VFC entails.