I don't know if the 1929 stock market crash was really the start of the great depression. It seems like the real issue was far more widespread and the stock market simply accurately reflected what was going on.
Even just the timing is suspect as many indicators started to fall in the 1928 while the market was still going strong. IMO, if you want to point out just one thing it was probably waves of bank failures which created and sustained a deflationary spiral.
Even just the timing is suspect as many indicators started to fall in the 1928 while the market was still going strong. IMO, if you want to point out just one thing it was probably waves of bank failures which created and sustained a deflationary spiral.