Recession

I only follow the news a little bit right now, but what I hear about our economy is not good. I have read up on the mortgage crisis and why all these banks are barely holding on. What I'm wondering is... if this is a recession, are any of my friendslist folks directly feeling it? For me, the only thing is that work has gotten a lot more tight with budgeting, but that's mostly just an atmospheric change.

So? Any of you out there directly feeling the effects of this economic downturn? I want to hear about it.