Factoid #49: The Forgotten Depression of 1920-1921
This depression lasted from January 1920 to July 1921. Wholesale prices plummeted by over 36%, worse than any individual year of the Great Depression. The forgotten depression was followed by the Roaring Twenties.
The recovery has been attributed to reduced tax rates, sharp government downsizing, and monetary stimulus. The president at the time was Warren Harding (1921-1923). Calvin Coolidge, then VP, followed as president (1923-1929).
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Wow. I’d not heard this. Thanks!
By: Tam Linsey on April 26, 2013
at 8:20 pm
You’re so welcome, Tam. I have found very few people that have heard about this bit of American history. Cheers, Ashley
By: A. C. Cockerill on April 26, 2013
at 8:23 pm
Sounds like all three remedies should be implemented now. db
By: Denise on April 26, 2013
at 8:57 pm
Couldn’t hurt, Denise. Cheers, Ashley
By: A. C. Cockerill on April 26, 2013
at 9:14 pm
I agree with Denise, but it’ll never happen. Too many voters on federal dole or federal payroll.
By: David N. Walker on April 26, 2013
at 11:14 pm
You may be right, David. It will be interesting to see how the unemployed college graduates evolve. Cheers, Ashley
By: A. C. Cockerill on April 26, 2013
at 11:33 pm