I was just about to start such a thread, but after having this it's unfair to start another. But I hope we get responses for all, not only the original poster of the thread as most of the time it happens.
As mentioned it's quite a tough time for airlines due to fuel prices, and many airlines about to ground their fleet and expectation of liquidation of some airlines and other odds and ends.
Is it wise to spend a huge amount of money on training now? and as we all know it's quite difficult for low hours fresh CPL/IR&ME holders to find a job after graduations.
Despite all this I'm still going to go for it, as it is my life time inspiration and my passion to be pilot. And I don't need to get loan as I have saved for my flight training. So do you think I should go for it? even in these situations? your comments can encourage us.