Individuals and companies are not spending any money and doing that to an extreme. Thus, everything is grinding to a halt. Now I'm not saying run out and buy and for those who have over-leveraged themselves, they need to fundamentally fix that problem. And, we need to all be saving more than spending. However, we've got to get our confidence back.
I think all of us need to start looking for good news and we all need to be looking to help each other get through this. Here is a site that talks about a teacher who changed the culture where she worked. HBR has an article that says we need to cut out the doom and gloom talk.
I think the TV networks would do good to start finding more good news to share. All is not bad.