For two strikingly different takes on the current economic situation, see the following:
1) A presentation by Sequoia , a VC firm, to the CEOs of its portfolio companies at a mandatory meeting last week. The basic message: Sell. Be afraid; be very afraid. This is the worst crisis since the Great Depression. Get rid of staff, shed expenses, reduce your horizons, and try to get to cash flow positive at all costs. Optimism Index Quote: "It's always darkest before it's pitch black."
2) An article by Warren Buffet in the New York Times. Basic message: Buy. This is one of the greatest possible times to invest. Opportunities like this do not come often. There are lots of solid companies that are sound and that are significantly undervalued. Find them and buy them. Optimism Index Quote: "Be fearful when others are greedy, and be greedy when others are fearful."