146. 2009 Economy and 2010 Future

I found this to be an interesting summary of the economy through YTD 2009 and a glimpse of 2010. Although the original source is unknown, it was posted on Barry Ritholtz's blog http://www.ritholtz.com/blog/. Click on the image to ZOOM IN to read it. Here are a few bullets from the data:

• Global Economy shrank 2.4% in 2009 YTD
  
• Global Economy expected to return to rise 2.5% in 2010
• US Economy shrank 2.6% in 2009 YTD
• US Economy expected to rise 0.8% in 2010 (Not very exciting)
• Exports shrank 24% in 2009 YTD but leveling off (yet our Treasurer Geithner just claimed on CNBC this morning that exports have been good this year -- see the lies!)
• Over 100 Banks failed so far in 2009
• 2009 Auto Sales are running at only 72% of 2008 (and now the GM CEO resigned amidst the pay ceilings and government controls over GM -- good luck replacing him with anybody qualified)
• Airlines continue to fly fewer flights and have fewer passengers

These with the continued printing of money the Fed's zero interest rates, and major foreign countries buying gold (fiat currency) makes next year look catastrophic to me.