Are Weaknesses in the American Economy Responsible for the Wall Street Crash?

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Are weaknesses in the American economy responsible for the Crash? Overproduction Other reasons Wall Street crashed yesterday could have been the overproduction of goods. Hundreds, and hundreds of new good could be produced at rapid paces because of the introduction of mass-production methods. Too many goods were being made and this became over production (more goods were being made than the American population would be able to consume). People had already bought the goods that they wanted (if they could afford them). There were not enough people buying the goods that were on the market. Poverty Another reason for the crash could also be the poverty found in 50% of the American population. Families that only earned $2,000 or less a year only purchased necessities. They were not contributing to the market. For example, the farming industry has been at a low meaning that most of them were "just scraping a living". The new immigrants to America were given low paid jobs. They had no money to spend on radios or refrigerators. In the old industries (e.g. raw material industries) there was a low demand because of all the new industries introduced in the 20s. Poor wages and the demolishment of trade unions led to them not having disposable income to spend on luxuries. Also, Black people were continued to be discriminated against, and lived in poverty. Trade The US has not been selling the left over products (due to over-production) to other countries around the world. Especially to Europe because they owe large amounts of money to the US because of loans given to them during World War I and are currently not able to pay them back. Also, the government has put high tariffs on goods imported from other countries and the European companies could not sell to America because of the very strong American
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