Photo credit: NARA(SPB) - National Archives and Records Administration, Still Picture Branch

Unless you’ve been on a raft in the middle of the Pacific this last month, you’ve noticed more than a few financial sharks circling around your microISV or startup.

The Credit Crunch, Iceland – the hedge fund with glaciers – hitting the Titanic of ansy bankers and locking up more than few billion pounds in the U.K., Germany, with banks being reorganized faster than a new round of beer during Octoberfest; the United States – partly nationalizing its banking system in order preserve the Free Enterprise System (sic), governments changing their tune and throwing hundreds of billions of dollars around: Something is Going On. Call it the Global Economic Crisis, with film on every newscast.

I can’t tell you how much of the Global Economic Crisis is real, hype, or somewhere in between. I can tell you the other economic crisis, the measurable slowdowns in consumer/business spending, rise in layoffs and unemployment and flat or negative economic growth is real, and its name is Recession and it’s going to impact every IT company large and small.