Consumerism was big during the 1920s, and many people were buying things on credit. How did this negatively impact the economy? (I'm finally asking an academic question that will effect my gradesplease help)

In the 1920s, assembly line production and easy credit made it possible for ordinary Americans to purchase many new consumer goods.

the old way of life was represented by superstition, an angry god, and absolute submission to authority. the thinkers of the age of reason ushered in a new way of thinking. this new way championed the accomplishments of humankind. individuals did not have to accept despair. science and reason could bring happiness and progress. kings did not rule by divine right. they had an obligation to their subjects. europeans pondered the implications for nearly a century. americans put them into practice first.