A reporter wakes up naked next to his girlfriend, covered in blood, beneath plastic sheets. But the story transcends its splatterpunk opening to achieve a more psychological brand of horror. The odd part is that the first half seems like an entirely different story than the second half. A lot of time is spent on how humanity deals with magically waking up covered in blood every morning, from infections down to haircuts. It is made clear that the blood isn't the blood of the sleeping people, but appears out of nowhere.
Then the protagonist gets to use his exceptional lucid dreaming abilities to help a scientist friend figure out what's going on, since the blood only appears when you're asleep. From here we get into Lovecraft territory, and as the Pseudopod outro points out, you can't help but think of Nietzsche's famous "when you gaze long into an abyss, the abyss also gazes into you." This one is truly scary despite the bloody, unlikely premise. The Mayan Apocalypse tie-in annoys me, but isn't unjustified, and the ending is very good, in the horrifying sense of "good". Love the last line. 4 dreams out of 5 are safe for dreaming, just avoid the other 20%.