What I did not realize until going back in time was how these German reparations are dragging on and on.
Armistice is signed in 1918, and reparations are agreed upon in late 1919. In 1920, the payment plans are put forth. By 1921, it's clear Germany can't repay in full. For the next 3-4 years, the entire calamity will stumble in fits and starts. Until the US gets involved in the mid-1920s (Dawes and Young Plans).
Even then, war reparations aren't completely paid back until 2010.
It reminds me a lot of the Greek situation in the 2010s. Three bailouts, several different rounds of negotiations, etc.
I'm not sure things have really gotten faster. The increased communication rate might be balanced out by the higher inertia of a more interconnected global economy. I feel like the ripples from 2008 are still catching up with us -- look at how interest rates have been cranked low ever since. That's thirteen years.
What I did not realize until going back in time was how these German reparations are dragging on and on.
Armistice is signed in 1918, and reparations are agreed upon in late 1919. In 1920, the payment plans are put forth. By 1921, it's clear Germany can't repay in full. For the next 3-4 years, the entire calamity will stumble in fits and starts. Until the US gets involved in the mid-1920s (Dawes and Young Plans).
Even then, war reparations aren't completely paid back until 2010.
It reminds me a lot of the Greek situation in the 2010s. Three bailouts, several different rounds of negotiations, etc.