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One economic warning sign of the 1920s was the increase of: Consumer Debt.
Danger signs were present in the economy of the late 1920s, with banks not having enough money and falling stock prices. Steel output also fell along with house construction and car sales. The United States has a huge gap between rich and poor, both in terms of individuals and businesses.
80% of all families do not have a savings account. Overproduction and low consumption have affected most sectors of the economy. Old industries are in decline. Farm income increased from $22 billion in 1919 to $13 billion in 1929.
Farmers' debts have reached $2 billion. Prosperity skyrocketed as the production of consumer goods increased. Washing machines, vacuum cleaners and refrigerators have become common household items. In 1934 , 60% of households owned radios.
Lasting almost 10 years (from late 1929 to about 1939) and affecting most of the world, it was marked by a sharp decline in industrial production and prices (deflation), mass unemployment, banking activity, and dramatic increases in poverty and homelessness rates.
Excessive borrowing, export restrictions, refusal to help a struggling agricultural industry, and mass speculation were the economic options that ultimately led to economic instability in the late 1920s.
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