Page 213 - Morgan Housel - The Psychology of Money_ Timeless Lessons on Wealth, Greed, and Happiness-Harriman House Limited (2020)
P. 213
COBACOBA
Household debt in the 1950s grew 1.5 times faster than it did during the
2000s debt splurge.
3. Pent-up demand for stuff fed by a credit boom and a hidden 1930s
productivity boom led to an economic boom.
The 1930s were the hardest economic decade in American history. But there
was a silver lining that took two decades to notice: By necessity, the Great
Depression had supercharged resourcefulness, productivity, and innovation.
