The following article I found while general surfing and found it interesting and more importantly pleasant amids the gloom of economic slowdown. The article is written by Paul Graham. Paul Graham is an essayist, programmer, and programming language designer. In 1995 he developed with Robert Morris the first web-based application, Viaweb, which was acquired by Yahoo in 1998. In 2002 he described a simple statistical spam filter that inspired most current filters. He's currently working on a new programming language called Arc, a new book on startups, and is one of the partners in Y Combinator.
Why to Start a Startup in Bad Economy By Paul Graham.
The economic situation is apparently so grim that some experts fear we may be in for a stretch as bad as the mid seventies.
When Microsoft and Apple were founded.
As those examples suggest, a recession may not be such a bad time to start a startup. I'm not claiming it's a particularly good time either. The truth is more boring: the state of the economy doesn't matter much either way.