Sigh.
I'm of a mind that there are too many random, interconnected influences, from the tiny to the gargantuan, on the world economy, to allow generalization from the 1930's, the 1970's, or any other period. The time we are in is unique to itself, and will play out accordingly.
I wish I could believe otherwise, since that might allow me to grasp at some theory that'll tell me what to do next about my family's finances. The fact is, I have no more clue than I did at age 21. All I can do is hope the time-honored strategies that I already knew about back then (work hard, LBYM) and learned about years later (DCA) won't be undone by some unpredictable event, or set of well-meant policies.
Wait, they already have been undone to some extent.
Amethyst, feeling discouraged. (I think I need chocolate).