pessimism

• falling agricultural prices hurt farmers, leading to outbreaks of violence as part of "The Farmers' revenge" in 1928.
• there was a world grain surplus, meaning people were not looking to Germany to buy it, and exports were falling. This was bad for farmers. this also contributed to rising levels of unemployment from 1923 onwards
• Germany was fully dependent on american loans, considered to be "dancing on a volcano", and german economic growth was below all other allied powers.
• german imports exceeded exports after 1923 barring 1926, meaning there was a significant budget deficit and national debt