All of a sudden, the economic news is going from bad to worse

The stock market is in free-fall., Manufacturing has ground down to its slowest rate since 2009, in the aftermath of the economic meltdown. All of a sudden even the modest recovery we thought we had going seems to have ground to a halt. Worse, planned layoffs are going up.

Market analyst Peter Yastrow says that "we're on the brink of a great, great depression- and the Fed knows it."

Time to pray, folks.

HT: Drudge