Is it time to worry about inflation?
Max Kirouac - Jun 16, 2021
Germany’s economy was in shambles when World War I drew to a close in 1918. Germany mobilized around 11 million troops over the course of the conflict, and keeping these soldiers fed, clothed, and equipped was not cheap. The government funded the war effort with huge budget deficits in anticipation of a quick victory. The war wasn’t viewed as an expense, but as an investment: all debts would be covered by the countries Germany conquered. Instead, the war dragged on for four years and Germany found itself economically crippled and unable to fight on...
