Depending, of course, on your investment time frame and reasons...

Depending, of course, on your investment time frame and reasons for being in the market, I really don't think that recessions/depressions/market panics and the like matter at all....
Consider that the US has had around 48 recessions in the last 240 odd years and has recovered from all of them in a period of a few months to a year or so. Consider also that the market has only risen over that period of time - when one takes the long view - and we can thus see that recessions, etc, are an inevitability but not to be feared as long as one isn't a trader or holder of dubious or unprofitable holdings.....