Short answer is Yes.
 
"Are we headed for another Great Depression".

 
Excerpt:

Germany spent $3.9 billion less than England. Inflation since 1913 has been ferocious. This probably would represent well over several trillion dollars in today's currency. Even today, no nation can take a financial hit that big and stay solvent. Europe's industrial production fell 30% and the US, fattened off of billions of dollars of loans to all parties in Europe, lived high and mighty during the 1920's. But with industrial production lagging, Europe spiralled downwards. The US cheerfully gave everyone more and more loans and the promise of being repaid was fantastic! Why, these were basically AAA subprime loans.

Then Germany couldn't pay and kept asking for better terms. This was OK with the US but not with bankrupt England or France. So they demanded full payments and Germany defaulted. This triggered the Great Depression.
 
 
 

Maranatha!
Deborah
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