Daily Reckoning contributor, New York Times bestselling author, and economic historian Tom Woods explains how there was nearly a Depression in 1920… but, it never happened because the government didn’t interfere.
A few highlights according to The Money Game…
“* The first year of the 1920 Depression was worse than that of 1929. Conditions were horrible.
* Yet due to President Woodrow Wilson’s stroke near the end of his term, very little was done by the government to stop the economic decline.
* By the summer of 1921, recovery was on the way.”
Watch the video below.
This article originally appeared in the Daily Reckoning. The Daily Reckoning, a FREE daily e-letter, offers a “uniquely refreshing” perspective on the global economy, investing, and today’s markets. Follow the Daily Reckoning on Twitter.
Depressions End When Your Gov’t Backs Off
