To a large extent, this statement is true. The 1920s was a period in history in which extravagant lifestyles were the norm for the wealthy. People began to engage in mass consumption and consumerism. This led to overspending and to luxurious lifestyles, as the country experienced an economic boom.
This also led to people wanting to become rich quickly by speculating in the stock market. The financial decisions made during this era eventually led to the Wall Street Stock Crash of 1929, which led to the Great Depression of the 1930s.
During the Great Depression, many people lost their jobs, millions became poor and many others relocated to cities to look for work. The Great Depression led to the passage of several acts that promoted social welfare, which were collectively known as the "New Deal."
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The answer is extreme love of the Egyptians for the pharaohs. At most, the pyramids were actually tombs where the pharaohs were buried. The people put all the riches of the pharaoh in the tomb with the corpse of the Pharaoh so that they could rest comfortably. it was a symbol of showing that the people still care for their ruler even in the afterlife.
