Absolutely false. 25 years ago people were absolutely bullish about what was ahead. I wasn't around in the 70s but data suggests that people were indeed happier than in the recent decades despite inflation and political issues. As for the 1920s, if we only look at America people were on a freaking cloud after the end of WW1: cars, radios, massive economic boost after the end of the war.

Yeah there was poverty, and social issues and blabla, but we're talking average and trends here.