Are We Heading for Another Great Crash (of 1929)?

People rush to a savings bank in Millbury, Mass., on Oct. 24, 1929, as Wall Street in New York crashed, sparking a run on banks that spread across the country. OFF/AFP/Getty Images

Commentary

I have studied quite extensively the stock market crash of October 1929, and the Great Depression of the 1930s that followed, for a book I am writing on crisis forecasting. I recently noticed that the current economic and financial conditions have started to align with those that preceded the “Great Crash” in a rather worrisome way.