Germany
The Young Plan
The Young plan reduced the German reperations even further.
Related: Treaty of Versailles | Dawes Plan | Belgium and France occupy Rurh

U.S. (and the world)
Stock Market crash
After being swamped with investors, the stock market finally crashed under the pressure of thimblerriging (buying stocks with loan money and using them as collateral to get more loan money to buy more stocks and so on) and the constant bull market.
Related: Roaring 20's | Depression | New Deal

...backwards ...globe... onwards...