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"The following factors were equally important in causing the Wall street Crash: Overproduction, Banking Crisis, and Loss of Confidence" Do you Agree?

There were many factors that contributed to the economic depression in America, all of which are closely related to each other. Overproduction, Banking failure and the fact that people lost their confidence in the country's economy all contributed to the end of the Roaring Twenties. I personally think that hey were all the dead ends that every extreme type of prosperity will inevitably meet, and the "crash" as such begins to happen very fast.

Mass production, while during the peak of America's economy was a huge factor contributing to the country's prosperity, had the exact opposite effect during the Wall Street Crash. The industries were manufacturing excessive amounts of products and the consumer demands simply weren't high enough anymore; everyone who can afford (which was only half of the population as 50%-60% of the country were living below the poverty line) to by these goods, such as cars and vacuum cleaners no longer needed to and this caused the market business to dramatically decrease unexpectedly. As the demand for consumer products rapidly falls, workers' wages were cut and many became unemployed; they can no longer afford to buy the excess products which was the very reason they lost their jobs in the first place.
The decrease in consumer market did not stop within the USA either; many surrounding countries picked up on the Fordney McCumber Tariff Act and began putting high taxes on imported goods coming in from America. This meant that customers in those countries can no longer afford American goods; America lost a huge market, practically the whole inter-trading system.
Farmers, to begin with did not prosper with the rest of America, and the fact that their products were not being sold because of the huge competition against new machineries which can produce masses did not make them any richer. Farmers, along with the other half of the population could not afford to buy these products at all.
Mass production, or more accurately overproduction definitely played an important part in the Wall Street Crash.

Stock market and banking fell just as rapidly as it rose. Just before the Wall Street Crash, many people with aspirations of earning a huge amount of money in a short period of time used the stock market to their advantage; everyone was buying shares. Because of this huge demand from investors, the prices

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