I personally have put an hold on my flight training for the next 12 months or so, this is definately not the time to start, hold on a little while see how it develops.
It all depends on who is funding your training, I am funding my own, so I dont want to spend all my money and have nothing at the end of it. Some others may be using the parents money and may not care whether they loose it all or not, others and the majority are probably taking large bank loans, these are the people that need to have a backup plan, as they will have to pay off the loan when their training is complete.
You need to time your training so you complete as the next upturn starts, hold of a while and see if you can estimate when it will be (probably 2010 - 2011), that is the time to start.