WORLD HISTORY

Detailed explanation-1: -In 1929 as the Wall Street Crash led to a worldwide depression. Germany suffered more than any other nation as a result of the recall of US loans, which caused its economy to collapse. Unemployment rocketed, poverty soared and Germans became desperate.

Detailed explanation-2: -Stock prices collapsed first, by the end of 1919. The downturn in wholesale prices came 6 months later. By the autumn of 1920 a severe industrial depression had developed. Factory employment dropped 30 percent from March 1920 to July 1921.

Detailed explanation-3: -In the years following World War I, there was spiraling hyperinflation of the German currency (Reichsmark) by 1923. The causes included the burdensome reparations imposed after World War I, coupled with a general inflationary period in Europe in the 1920s (another direct result of a materially catastrophic war).

Detailed explanation-4: -The most obvious consequence of this collapse was a huge rise in unemployment. Over the winter of 1929-30 the number of unemployed rose from 1.4 million to over 2 million. By the time Hitler became Chancellor in January 1933 one in three Germans were unemployed, with the figure hitting 6.1 million.

Detailed explanation-5: -America Retreats From the World. While the United States emerged from World War I not only as the world’s leading economic power, but scarred by its involvement in what many Americans saw as a purely European conflict. German Reparations Weigh Down Europe. Economic Barriers Restrict Trade. The Global Economy Collapses. 12-Feb-2019