That's... just not remotely true, unless you're talking about it as a maybe-it-happened-to-someone story. In fact it's basically a lie.
Every income group in the US (and recognize that "blacksmiths" represent skilled trades workers who earned well above median and had for thousands of years!) saw huge, huge, HUGE increases between 1880 and 1950. I mean... are you high?
> It took almost 70 years and the post WW2 destruction of the rest of the worlds economies/infrastructure to create that 1950s American suburbanite world.
Again, big citation needed on this one. Western Europe was very close to US quality-of-life numbers by the 60's, and the more successful nations started to pass it in the 90's. (Also recognize that the US had already pulled ahead in the 30's, Germany and France were lagging even before the war). You're looking at something along the lines of a decade to rebuild, tops.