Jon Lovett

Quote is liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.

It will purge the rottenness out of the system.

High cost of living and high living will come down.

People will work harder, live a more moral life.

Values will be adjusted and enterprising people will pick up the wrecks from less competent people.

Hoover.

He's telling that to Hoover in 1929.

There's a little bit of resonance in the way some of the... It's like a tea party speech.

It's a tea party speech.

It's also a MAGA...

industrial policy.

We've got to get back to making things.

We've got to get back to using our hands.

Carter Glass and the people that were against Wall Street speculation, they are ultimately vindicated because of what happens.

But they weren't just predicting the future.

They had a moral problem.

with what was happening in the economy.

Clearly someone like Andrew Mellon, pretty callous about what would happen to farmers who don't, you know, they are people, they don't liquidate as well as say dollars do.

But there's clearly something about the way the American dream had changed in this era that made people uncomfortable.

Can you talk about that?