Sign of the Times - Recession

First, there were media reports of recession. Second, AIG/Lehman/Bear Sterns went belly up. Third, the stock market plummeted. Fourth, I hear many secondary stories from friends and family getting laid off. Fifth, I make a phone call today and learn it's the last day of someone we work with because his firm is cutting back.

The next steps are the following:

Close friends or family losing their jobs. Me losing my job.

*They say a recession is when your friend loses his/her job and a depression is when you lose yours.