Market Crash of 1929 - Causes

This is in response to an article at Fighting in the Shade in which the author boldly claims a superior understanding of the reasons and consequences of the Great Depression which began in 1929. Here's a quote from that article:

"I suspect that most readers of these postings are not old enough to have first hand recollections of the Great Depression and fewer still have a grasp of its causes and effects."

I suggest that the author dig a little deeper into the causes and effects of that economic disaster. The following paragraph, taken from the artilce, "Causes of the Great Depression" by Paul Alexander Gusmorino 3rd : May 13, 1996, summarizes those causes pretty well.

"The Great Depression was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized world. The depression began in late 1929 and lasted for about a decade. Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the latter part that same decade. The maldistribution of wealth in the 1920's existed on many levels. Money was distributed disparately between the rich and the middle-class, between industry and agriculture within the United States, and between the U.S. and Europe. This imbalance of wealth created an unstable economy. The excessive speculation in the late 1920's kept the stock market artificially high, but eventually lead to large market crashes. These market crashes, combined with the maldistribution of wealth, caused the American economy to capsize."

I invite the author of the article at Fighting in the Shade to share his thoughts on the above.