Not to be a downer, but let's go over some recent history, and recap the last 2 weeks (not even):
Caterpillar: 20000 laid off (probably includes int'l as well)
Sprint: 8000 laid off
Macy's: 7000 laid off
Starbucks: 6700 laid off
Boeing: 10000 laid off (probably int'l as well)
Home Depot: 7000 laid off
Microsoft: 1400 laid off
All of these within less than a 2-week period. Here's the question for all of you eternal optimists: where are all these people going to go? All I keep hearing from the permabulls is "recovery in the second half," my question is: huh? Let's quit denying this and call it what it is: a depression. I hate saying that, but that's what it looks like we're getting. I'm not one of those people who takes joy in saying that either, just so I can be right and say that "I called it." This is effecting many people I care about, including my own job, and I'm sure it's hitting home for everybody else here as well. I think part of getting through this is giving up the false hope that the good times and all-time high bull markets are right around the corner and accepting what this is, but at the same time trying to maintain a positive attitude based on realism, not on false hope.
