"After 1929, so many people had been traumatized by the stock market crash that there was a lost generation"

This quote by Ron Chernow is referring to the Great Depression of 1929, which was a severe economic decline that lasted for over a decade. The stock market crash of 1929 was a major contributing element to the Great Depression, and it had a destructive impact on the American people. Lots of people lost their life savings, their jobs, and their houses. This injury was so great that it produced a "lost generation" of people who were unable to recover from the financial destruction. This quote is a pointer of the lasting effect of the Great Depression, and how it impacted the lives of many individuals. It is a tip of the importance of monetary security and the requirement to be prepared for unanticipated financial slumps.