Grandparents telling about their grandparents is a very different timescale than two presidential terms with a gap of just one between them.

The "what changed in the 1970s?" meme graphs are the kinds of timescale for forgetting what is and isn't "normal" for your grandparents, and the Great Depression for your grandparents' grandparents.

Eternal growth? Nah.

Even the worst of times will be shortly followed by a recovery, soon enough you survive on savings? Pft.

The President surely wouldn't consider to order the removal of protesting veterans, with the Army Chief of Staff implementing this order with a contingent of infantry and cavalry, supported by six tanks, burning the belongings that the veterans had left behind after being cleared from where they had been protesting? https://en.wikipedia.org/wiki/Bonus_Army

Conscription? Concentration camps? These are also in the "grandparents' grandparents" timescale in the USA. Go back only a one more generation and you get lynching *postcards*.