Family Finances - Ambassador College Production

Ambassador College Production

Various nations around the world have been riding an economic roller coaster during the 20th century! Financial upheavals of staggering proportions - depression, massive unemployment, runaway inflation, skyrocketing interest rates and ever-expanding debts - have affected the economies of dozens of countries. Certain countries, especially in the developed world, have also experienced periods of unprecedented stability, wealth and prosperity. From Boom to Bust! After the economic upheaval created by the First World War came the Roaring Twenties. This was a period of burgeoning wealth and prosperity, especially in the United States. But then, like a lightning bolt, came the stock market crash of 1929. Shock waves were felt around the world. Then followed the Great Depression of the 1930s. In Germany, economic troubles - hyperinflation and massive unemployment - ultimately led to the rise to power of Hitler and the Nazi party. World War II came. In its aftermath Europe and much of the rest of the world were in economic shambles. The U.S. economy, however, experienced an upturn as a result of the billions of dollars pumped into it to support the war effort. - Information Supplied By: Herbert W Armstrong Library