Wait it out, in the long run it will likely benefit you.
That is what A post over at Get Rich Slowly is claiming and the reasoning seems to apply. Statistically at least the market will rebound from this lull/recession/depression/retirement evisceration.
If you are younger (20's or 30's) now is a great time to throw some money into the stock market. If you are a bit older, your risks are hopefully shifted to protect you from these types of troubles (bonds/cd's/etc).
About the only people who should not be throwing money at the stock market at this point are those with a lot of debt, or people who believe the financial system is on the verge of collapse, in which case what are you doing reading this? Shouldn't you be off preparing for the anarchy/lawlessness that is yet to come?