Was the UK's Great Depression of 1929 caused, partly, by the emancipation of Germany?

Question

I.e., was the fact that Germany wasn't able to contribute to Europe's finances a forceful factor in the UK hitting depression?

Answer 1

Not quite.

My guess is that the biggest single factor in the depression was the USA propping up the British governmetn with loans (originally racked up by the UK during the first world war). The support for the UK distorted the American banking system such that when the speculative bubble burst in October 1929, the recovery in 1930 was incomplete and THERE WAS A SECOND CRASH IN MAY, 1931. Early in the depression, it was called "the depression of 1931."

That second devastating crash is the difference between a burst bubble with its subsequent recession and a genuine "depression."

The depressed 1930's unhinged the large debtor nations like Germany and Argentina. America completed its ascension to world power at this time due to technological advances and the unheralded fact that the USA paid DOWN its own national debt from $24 billion to a mere $16 billion during the 1920's. The dollar was sound throughout the thirties, enough to engage in FDR's toy recovery programs and then borrow $1 trillion to win the next world war.

This time, seventy years later, we've got $100 trillion in unfunded obligations (mostly Medicare and Social Security), we are the world's largest borrower in history, and we're mired in the quagmire of an unpopular colonial occupation in Iraq.

So if there is another worldwide economic reversal, the USA will suffer terribly, much worse than we did in the 1930's. We're skating over thin ice in a puffball prosperity based on debt.

Answer 2

The world was in a depression through out the twenties started by the end of WW1 and the allies required payments from the Germans. They raised production of their marks to a point where they had no worth and that helped destroy the world wide economy. America was the last to feel the affect of this depression, it did not hit us until October '29.
b

Answer 3

No, America had overtaken both Germany and the British Empire in 1888. It was caused by the huge speculative bubble of investment bursting which started with Wall Street's collapse.

Answer 4

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