At the Haddington Multi Services Center for Older Adults, in West Philadelphia, are people who remember that time all too well.
Rev. Alexander Porter visits the Haddington Multi Services for Older Adults every Tuesday, to preach and teach.
The topic for Tuesday: America's failing economy.
"With the lust for success, monetary success, credit cards, banks taking chances here and there, we got carried away," said the Rev. Porter.
Like most of his audience, the Rev. Porter was born during the depression, when people learned to not take risks with their money.
Most, like 88-year-old Roger Clark, have not forgotten those valuable lessons.
"I ain't borrowed no money since the 40's. I learned how to live within my means," Clark said.
George Howe, a Buffalo soldier, remembers the Depression well. His family wasn't badly affected because they had a farm and lived off the land, but he remembers others who were hit hard.
"I used to go to the city with my father. I used to ask questions because I was 8 years old, I asked 'Why are the people in line?'" Howe said. "Those people were in a soup line."
Bill Capoferri, of Narberth, also remembers a different time. He bought his house more than four decades ago and mortgage has been paid for 30 yrs.
"I bought the house in 1964 and in 10 years I paid the mortgage because it was only $10,000," Capoferri said.
Capoferri says it's a real comfort not having to worry aout your finances.
Rev. Porter also had some harsh words for parents, saying we've become too materialistic, and have failed to teach our children the value of money...how to spend it and, more importantly, how to protect it.