The nation's deepening recession recalls the lessons of the Great Depression, which shaped the lives and financial philosophies of many local elders.

As a child, Bill Cable remembers his parents sweating over finances at the kitchen table, struggling through the years that would come to be known as the Great Depression.

Itinerant people in the 1930s set up camps — called Hoovervilles, a reference to the Hoover administration's policies. This one was south of downtown Seattle. "They thought they would be in debt the rest of their lives," the Seattle man said.

Such experiences taught Bill, 80, and wife Donna, 79, to save what they could, keep their bills manageable and live without credit-card temptation. "That's probably why we've survived and why we're all here," he said.

Through nearly 60 years of marriage, "we never bought anything unless we saved the money and paid for it," Donna said. "We were always afraid something would go wrong."

The Cables passed on the lessons they learned, and their children mostly have fared well. Faced with the current economic crisis, however, "they are feeling it, and they're scared," Donna said.

As the nation heads deeper into recession, the longest and possibly most severe since World War II, it's worth remembering that once upon a time, things were much worse. Those who lived through the Great Depression of the 1930s emerged with experiences that would shape their lives and financial philosophies, providing lessons many passed on to their children and a lens through which they see today's situation.

http://seattletimes.nwsource.com/html/living/2008678892_depression28m.html

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