Hmm....I may have been a little optimistic in the assessment of the financial situation at large. Us folks working in my industry (Digital Media Development) are still very busy, so maybe I didn't really see it so well. Also, NYC is pretty darn diverse in terms of the kinds of industries here.

http://www.clusterstock.com/2008/10/sp500-worst-decline-for-year

"You can't sugarcoat it... We're now looking at the worst year-to-date decline in the S&P 500 ever."

The year-to-date drop is right around -33.7%

BUT

According to Political Calculations, the worst 12-month period (not calendar year) for the S&P 500 was June 1931-July 1932, when it fell 63.8%.

Well, I guess I have to admit, the manure has indeed hit the HVAC inlets.

At the same time, I have no intention of cutting back on my LOCAL spending that much. In fact, I'm increasing it. LOCAL merchants are people I know, owners of small businesses, making middle-class wages just like me, and I'd like to see them stay in business. So maybe I'll spend 50 cents more than Home Depot on that set of door hinges at the local hardware store - but Gene has been there for almost 40 years, and he's been a great guy to me and my family. And so forth.

2009 is going to be a year we'll be telling our grandkids about.