canceled.2021.1
#AMERICAISDEAD
The stock market crash occurred like many stock market crashes occur. It was a misallocation of resources. You have to think about the psychology of the time. We just got out of WW1 and people were exuberant. Much like the dot com boom, everyone was talking about stocks. Everyone wanted a piece of the pie. Just like the dot com bubble, everyone saw the stock market as their ticket to easy riches. It was a matter of greed and I mean on EVERYONE's part. People were buying on margin, banks were buying stocks using peoples money without telling them, companies were buying stocks. When the bubble finally burst (as bubbles are prone to do) the panic selling could not be contained.
A tremendous amount of wealth just evaporated. Again as is human nature people panicked and their initial response was to have somebody "do something".
There were bad banking structures. Banks were cropping up all over the place, when these banks went under they were forced to sell stocks.
Again, it comes down to misallocation of resources. It is a natural occurrence of the business cycle. Human beings are irrational. That is why people think they will make fortunes on cabbage patch dolls, beanie babies and whatever other craze pops up. It is a natural occurrence and if left to its own devices will sort itself out.
Unfortunately, there are those who think they are smarter than the combined wisdom of millions of people and they think they can outsmart the business cycle and delay the inevitable.
So there you have the reasons for the crash. It has nothing to do with monopolies. For the record, you say you are against monopolies, but you appear to have no problem with government monopolies.