So we are deep in recession, now what?

Let me rephrase my question as:
when is the best time to startup, to invest, to take vacation, to get a degree?
The answer is always "NOW". Because waiting will not get you to anywhere.
Let me just elaborate a bit about why it's a good time to startup. First, the interest rate is lower. It's true that credit is hard to find, but at least talking to the loan officer now will give you a better position in the line when credit becomes loose near the end of the recession. Fewer entrepreneurs means more opportunities for you. By the time everyone
agrees it's a good time, the competition will be much more heated and fierce.