Any US history of events leading up to the stock market crash of 1929 and the 'great depression' following reads like a modern US history from 1980. The causes of the 'Great Depression' include a vastly unequal distribution of wealth and, of course, the stock market crash and financial panic of 1929.

This speculation and the resulting stock market crashes acted as a trigger to the already unstable US economy.

The rich stopped spending on luxury items, and slowed investments. The middle-class and poor stopped buying things with installment credit for fear of loosing their jobs, and not being able to pay the interest.

Radios and cars bought with installment credit had to be returned. All of the sudden warehouses were piling up with inventory. The thriving industries that had been connected with the automobile and radio industries started falling apart.

On the international scene, the rich had practically stopped lending money to foreign countries.