Plan Z Approved 1937 instead of '39?

Here's another WI for WW II at sea: Raeder got approval for Plan Z from the Bohmemian Corporal in 1939, and apart from U-Boats and some destroyers, it was suspended almost immediately after war began (it was never formally cancelled). This would mean that Bismarck and Tirpitz would be started at the same time as S&G (1935), and both the Hipper-class cruisers and the Graf Zeppelin-class carriers would also be started about that time (the Germans did have the yard capacity, after all). So, assuming Plan Z is approved in 1937 instead of '39, how many ships can be finished by, say, 1941?

Doenitz, btw, wasn't happy with Plan Z, even though under Z he was to get his 300 U-Boats, but as Raeder told him, "We don't want to be a Navy of U-Boats."

It also means that Raeder may still have the clout to resist Goering taking over the Naval Air Arm-several U-Boat skippers were former Naval Aviators, including Reinhard Hardegen (U-123) of Operation DRUMBEAT fame.
 
Really not feasible for a variety of reasons first and foremost because Nazi Germany's economy was a house of cards and I don't think it could handle implementing Plan Z in '37.
You also have to factor in what other areas of their rearmament effort are going to suffer in order for them to have the necessary resources. Siphoning those resources away from the army and Luftwaffe isn't going to sit well with the generals and Goering who consider the Navy at best a sideshow and at worst a threat to their interests.
The last nail in the coffin is the diplomatic repercussions of such a massive naval buildup since Britain isn't going to be happy one bit since there is really only one nation Germany would really need a navy to counter and it certainly isn't the USSR. Hitler knows Germany would be in a bad place if it found itself at war with Britain, France, Czechoslovakia and potentially Poland and or Italy in '37 and that's assuming the already antsy generals don't move against him first if Britain starts rallying the troops.
 
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