10 Charts Showing a Prolonged Global Recession: Credit Markets, Housing, and Equity Markets point to Lengthy Economic Contraction.

The IMF came out with a global report on the economy in October of 2008. Since that time, the global economy has deteriorated even further and the IMF has issued another report. I went ahead and looked at both documents and from what is presented, there is very little reason to believe we will see any stabilization in 2009. All the talk of a second half recovery would mean that things would need to start picking up on July 1st which doesn’t seem likely with news showing more hits to employment. Currently, we have 24 million Americans that are unemployed or underemployed and with news that GM won’t be able to make its June 1st payment and plant closures, we have to wonder what is going to happen to their 230,000+ worker force? (more)