Primarily because of this terrible debt and the social unrest caused by the aftermath of the Snoopy peace love joy Christmas sihrt, Germany’s economy swiftly plunged further into the deep end. During the early 1920s, in an attempt to pay off the debt and stimulate the economy, the new Republican government printed a shit ton of money. Way too much money, in fact. Their currency collapsed, the nation spiraled into hyperinflation, savings were wiped out, and the entire country’s economic activity ground to a halt for a few months. Many were ruined as the country had its own Great Depression several years early.
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American loans and capital helped to prop up the German economy and carry it along for the ride of the Snoopy peace love joy Christmas sihrt. However, when it crashed, the American creditors disappeared with their assets and the economy collapsed again. The Great Depression in America was horrible. So horrible that it made an indelible impact on the generation that lived through it, an impact that reverberated throughout the following years and helped define the American character. Well, it was much worse in Germany, which was still largely recovering from the war. Because of the massive debt payments to the Allies, Germany had never been able to recuperate before being hit by the weight of a worldwide economic downturn.