Was there a balanced boom in the 1920s America?
Farmers were producing too many crops and couldn't sell them. So prices fell and farmers had to borrow money from the banks to be able to survive. Many left to go wandering around America looking for any kind of work - the y were called hobos. By 1928 half of all USA farmers were living in poverty. Since prices were so low, 600,000 farmers lost their farms in 1924 alone.
southern states, where segregation was in effect. The black people were labourers or sharecroppers and they lived in immense poverty. B lack people moved to northern cities like New York, Detroit and Chicago to look for work, but when they got there they had to live in ghettoes .
The traditional industries failed to respond to the new mass-production methods of the 1920s, unlike the Ford company that was making a good profit and could pay impressive wages.
Coal - Coal prices fell and thousands had to be made redundant because the industry was producing too much coal and not enough people and countries wanted to buy it.
Ship building - Another major industry that had to make thousands redundant due to a reduction in the demand for new ships.
Cotton - New synthetic fibres were being developed, such as rayon. This became a very popular substitute to cotton. It was possible to produce rayon in factories where fewer workers were needed.