I don't really know what to do with this news... I mean... do I cancel my 401k, do I sell my house, do I dig a bunker? Recessions come and go, right? What can you do to prepare for the future except keep your debts cleared, keep a certain amount of cash on hand (I like about 6 month's worth), invest the rest as wisely as you can... and y'know... cross your fingers.
There will be ups and downs. Life is long. And this is a depressing topic. (=