Famous quote by Nick Clooney

Mobile Desktop
When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led direc
Like

"When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis"

- Nick Clooney

About this Quote

This quote by Nick Clooney is describing the financial and political circumstance in Germany throughout the 1920s. Throughout this time, runaway inflation and bank failures triggered the middle class to be destroyed, causing a duration of financial instability and political unrest. This instability and unrest produced an environment in which the Nazi party was able to acquire power and impact. The Nazi celebration was able to take advantage of the financial and political turmoil of the time, and used it to their benefit to gain assistance and power. This quote is a reminder of the importance of financial stability and the possible effects of financial instability. It also serves as a warning of the risks of enabling extremist political celebrations to get power in times of economic and political chaos.

About the Author

Nick Clooney This quote is written / told by Nick Clooney somewhere between January 13, 1934 and today. He was a famous Politician from USA. The author also have 29 other quotes.

Go to author profile

Similar Quotes

Small: The first panacea for a mismanaged nation is inflation of the currency the second is war. Both bring a tempora
Ernest Hemingway
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists"
Ernest Hemingway, Novelist
Small: Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you
"Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair"
Sam Ewing, Athlete
Small: I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engi
"I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments"
Friedrich August von Hayek, Economist
Small: The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation - Vladimir
Vladimir Lenin
"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation"
Vladimir Lenin, Leader
Small: I dont mind going back to daylight saving time. With inflation, the hour will be the only thing Ive saved all
"I don't mind going back to daylight saving time. With inflation, the hour will be the only thing I've saved all year"
Victor Borge, Musician
Small: Domestic inflation reflects domestic monetary policy - Martin Feldstein
"Domestic inflation reflects domestic monetary policy"
Martin Feldstein, Economist
Small: The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation
"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens"
John Maynard Keynes, Economist
Small: Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man - Ronald Rea
Ronald Reagan
"Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man"
Ronald Reagan, President
Small: Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel.
Warren Buffett
"Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation"
Warren Buffett, Businessman
Small: Congress has not raised the minimum wage since 1997. The minimum wage is now at its lowest level in 50 years a
Russ Carnahan
"Congress has not raised the minimum wage since 1997. The minimum wage is now at its lowest level in 50 years adjusted for inflation"
Russ Carnahan, Politician