The Great Depression By Isaac Asimov Essay

1060 Words Jun 5th, 2016 5 Pages
One of America’s darkest times in it’s history is known as the Great Depression. Isaac Asimov, a historical writer, once stated, “No one can possibly have lived through the Great Depression and not be scared by it. No amount of experience since the depression can conceive someone who has lived through it that the world is safe economically.” (Isaac Asimov) The country really struggled during this time, as jobs and money were scarce, impacting everyone throughout the nation. But not all of the depression was negative, more positives came out of this time than most people realize. People came together and unity spread across the entire country which, in turn, helped them get through the problems that they encountered. The Great Depression had both a positive and negative impact on the nation as a whole during and after it occurred. The Great Depression was a dreary time in American History and took a toll on much of the nation in a negative way. Black Thursday was the beginning of the depression, and it was on this day that “investors were made nervous by the rising interest rates, and suddenly sold their shares. This jolted investor confidence, and caused prices to plunge abruptly.” (mixbooks.com) When everyone sold stock, the banks were left with the worthless stock that no one wanted and had no money to function. For this reason many banks closed as a result of just not having enough funds. In total, “9,000 banks failed during the decade of the 30s. It 's estimated…

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