Herbert Hoover actually said...

"Moreover, there has been a tendency of wages to increase, the output per worker in many industries again shows an increase, all of which indicates a healthy condition."

"There has been a tendency for wage increases and the output per worker has increased, all of which indicates a very healthy situation."

"The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis."

"The best evidence is that although production and consumption are at high levels, the average prices of commodities as a whole have not increased and there have been no appreciable increases in the st..."