Okay, he was talking about the depression, but it still holds beautifully:
It is only the story of those Americans who yielded irrationally to professional seers and visionaries, as yokels yield to travelling [sic] corn-doctors and evangelists… Are the rest of us in the same boat? I doubt it. The boat we are in is getting some unpleasant rocking from the foundering of the other, but it is tighter of seam and will survive. We have all lost something, but not many have really lost everything. In actual values, the country is still rich, and any man who owns any honest part of it still has that part, and will see it making money for him when the clouds roll by… It seems to me that the depression will be well worth its cost if it brings Americans back to their senses. Once they rediscover the massive fact that hard thrift and not gambler’s luck is the only true basis of national wealth, they will discover simultaneously that a perfectly civilized and contented life is possible without the old fuss and display.