Why were the 1920's considered the best and worst of times?

It was a time of mass production but due to a mentality of high production and low wages consumerism couldn't keep up. America was overproducing and with companies losing money people started to get laid off. Further spurring the Great Depression was the Stock Market Crash, with people buying stock on credit and people eventually discarding their stock in a mad dash it crashed. Despite the fact that the crash only affected a small percentage of the population it trickled down due to the fact that these were business owners. Unemployment rates skyrocketed.

On the bright side...the beginning of the 1920s was the end of a war and a huge economic boom. (Stock Market Crash didn't happen until 1929) Prohibition led to an era of rebellious teens, women drank and smoked, dressed "scandalously", and overall gained more freedom