Personally, I haven't been directly affected yet by the current economy. I still have a job, and the job market in my specialty and region still looks ok from where I'm standing. But I'm concerned about how things will look 6 months from now.
Here's what I've been doing:
* More networking. Emailing colleagues from old jobs, setting up lunches, staying in touch.
* Keeping resume up-to-date.
* Fixing a side-project website that I did a while back, which has fallen into disrepair. (I think it's a decent demonstration of my abilities, when it's working, anyway.)
* Learning a new programming language/dev environment
* Trying to cut down on how much I read the news. Or at least articles about the economy. It seems like it's stopped being helpful, and for me I'm just starting to feel needless panic at this point.
How has the economy affected you, and what are you doing about it?