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  The blue line is unemployment, grey bars recessions. We now examine 1980-1990.  On 19 February 1980, the Commission on Narcotic Drugs decided to ask all governments to implement to the fullest extent possible sweeping countermeasures against drugs declared illegal, and recommended crackdowns: 3 (XXVIII) ... on financial assets and transactions related to illicit traffic … and subsidized equipment and technical assistance to prohibitionist countries.( link ) The muckraking journalists on 60 Minutes--who stirred national panic after a TMI reactor malfunction injured no one--promptly fanned hysteria against Bolivian plant drugs neither habit-forming nor addictive.( link ) The recession in 1980--like the Great Depression caused in part by League of Nations prohibitionism--is thus clearly discernible in the first quarter of 1980.  Inflation went to 13%, then 15% and the San Francisco Fed presented an unconvincing theory reminiscent of Herbert Hoover's "explanation" of the...

  Every bank in the USA was shut BEFORE March 1933 thanks to Bert Hoover opening corporate tax returns to scrutiny by State officials  Sec. 16. Any tax payable upon alcohol under existing law may be collected either by assessment or by stamp as regulations shall provide; and if by stamp, regulations shall issue prescribing the kind of stamp to be used and the manner of affixing and canceling the same. Sec. 17. When any property is seized for violation of this title it may be released to the claimant or to any intervening party, in the discretion of the commissioner, on a bond given and approved. Sec. 18. All administrative provisions of internal-revenue law, including those relating to assessment, collection, abatement, and refund of taxes and penalties, and the seizure and forfeiture of property, are made applicable to this title in so far as they are not inconsistent with the provisions thereof. Sec. 19. All prior statutes relating to alcohol as defined in this...

  Panic cartoon during 1905 China boycott of U.S. goods The U.S. responded with the Pure Food and Drugs Act of 1906 which required morphine labeling and caused The Panic, then the Hague Opium Convention of 1909, which caused WW1. Surely you recall these from history class, no? GENERAL PROVISIONS. SEC. 12 . The penalties provided in this title shall be in addition to any penalties provided in title 2 of this Act, unless expressly otherwise therein provided. SEC. 13 . The commissioner shall from time to time issue regulations respecting the establishment, bonding, and operation of industrial alcohol plants, denaturing plants, and bonded warehouses authorized herein, and the distribution, sale, export, and use of alcohol which may be necessary, advisable, or proper, to secure the revenue , to prevent diversion of the alcohol to illegal uses, and to place the nonbeverage alcohol industry and other industries using such alcohol as a chemical raw material or for other lawful purpos...