Originally Posted by ADL Colin

We're not even in a recession yet by one typical definition (2 quarters of shrinking GDP). Even if GDP is down it has to be so until June or so and that, being a future event, is still unknown too. Obviously there is a a lot of bad news out there especially fuel and food prices, banking in general, liquidity issues at financial institutions, equity prices and of course housing. Unemployment is slowly getting worse.

No, I don't think it is "really bad". It's just that it has the potential to become "really bad". Right now it is just getting worse and hurting some people more than others. The only person I know who has lost a job found another that was higher paying within 2 weeks. The major complaints I hear right now are fuel prices and housing losses and most with housing losses are not too concerned as they don't have to move so mentally they are looking at paper losses. I am starting to hear some people talking more and more about their stock market losses.