Are you seeing signs of the Recession/Depression?

I have to admit, being out and about this past weekend I saw plenty of people shopping, no drastic discounts at the big retailers, no more than the average # of houses for sale, etc. Everything seemed, well, normal.
Yet according to the news things are falling apart. I know about the store closings and layoffs, but the overall economic landscape seems to be about the same. I live in a pretty middle-income area. If you made X number of bucks last year there's no reason why your life would be affected much, unless you lose your job. Is the worst yet to come?

layoffs | laid off | company layoff