The economy is at a standstill but should come back eventually. If you read American history even the "Panic of 1893" didn't last forever. One observation I have about money is that people who have money and people who don't have money are easy to tell apart. It's not the yachts or the cars but it's the coffee to go and breakfasts that give people away.
People who always complain about not having any money buy coffee and a donut on the way to work. People who have money make coffee at home. People who don't have any money take the family to MacDonald's for breakfast on Saturday morning. People who have money make breakfast on weekends at home. People who don't have money took out big loans to buy SUV's. People who have money payed cash for their Toyota Priuses.
One thing about this recession is that it is making poor people adopt the lifestyles of the rich.