Over the past 10 days alone, the Dow, S&P 500 and Nasdaq have dropped about 8 percent. This has everyone shaking in their metaphoric boots, but the upside is that if you are still in the stock market, you might as well stay: your monthly purchases of 401(k) will go farther than they did in the spring. Other than that, there really isn't anything positive to say about the current economic climate.
O wait, I forgot: It's a great time to buy a house. Except that it isn't. While buried under the never-ending tide of foreclosures, banks decided that lending through mortgage was a bad thing. So if you can get a mortgage, you should go for it.