David Frum

@davidfrum ↗

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Last Checked Dec. 15, 2021

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Fri Jun 04 18:40:02 +0000 2021

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David Frum @davidfrum

The deflation of 1919 hit workers especially hard since wages had not kept pace with prices during the war. Wages had lagged during the wartime inflation; now they were to lead the way in postwar deflation. 6/x — PolitiTweet.org

Posted June 4, 2021 Hibernated

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David Frum @davidfrum

Here's crucial context for both riots and strikes: The First World War had generated significant price inflation in the United States. At war's end, US economic and monetary decided to force a return to pre-war price levels. That implied big cuts in wages. 5/x — PolitiTweet.org

Posted June 4, 2021 Hibernated

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David Frum @davidfrum

The postwar deflation pushed the United States into a steep depression: the US economy actually contracted faster (if not quite as deeply) as in 1930-33. It was this depression - not the League of Nations - that won the Republicans party their landslide in 1920. https://t.co/3a5Nm9PSq7 — PolitiTweet.org

Posted June 4, 2021 Deleted Hibernated Just a Typo