Richmond Fed - Off The Cliff!

Never mind the fiscal cliff, things are not swell in the Mid-Atlantic region today. I always pay very close attention to Richmond Fed Mfg Index, since this is where I reside. If you are looking for improving economic conditions, look somewhere else. This was an absolute stinker of a report - the worst since March of 2009. Market will not like this at all.

click on chart to enlarge