How was the economy during the 1920s?

The economic situation in the 1920s were that the Roaring Twenties was cooling down. The age of prosperity, and wealth, showed warning signs of forthcoming poverty. Since everyone was buying during the Roaring Twenties, usually on credit, they got into debt. Simultaneously, many people realized that they where in debt, and then therefore tried to sell their stocks. On Black Tuesday, the stock market crashed. On that day, everybody was selling. There was not a single buyer. Overproduction in factories put farmers, dress factory workers and railroad workers in dept. Since women's skirts were shorter, they didn't need as much fabric. Now everybody had a car because of Henry Ford's assembly line, which made the car affordable. Farmers overproduced, because during WWI, the allied powers needed food, since the war was being fought in their countries. Farmers kept on producing, and bought more land or tractors on loans. They then couldn't pay back the loans because nobody needed that much produce anymore. Overproduction was the key factor in launching the U.S into the Depression Era.

Extra Fact; Calvin Coolidge was the President of the U.S during the Roaring Twenties. Herbert Hoover was President during the Depression Era.