There is probably no bigger sign of economic distress than bankruptcy. It can be in the form of a business unable to pay debt obligations or an individual simply unable to keep up with former obligations. Most people that file for bankruptcy are not in a good economic spot. In fact, if you want a better indicator of economic health bankruptcy filings are a good measure. It is interesting what passes for good news in today’s market. For example, Alcoa announced a profit for the third quarter. Good news right? Well if you look into the details the company has cut 18,000 jobs in the 12 months ending on June 30th and also planned on cutting an additional $2.4 billion in costs. In this economic crisis people need to look at the details before assuming something is just good news.
Bankruptcy data doesn’t hide this. Since new legislation went into law in 2005, bankruptcy has been harder to file. So the recent increase in filings makes it all the more troubling
LINK HERE
HUGE Second Stimulus on its WAY!
LINK HERE
10:53 you are the who has been dropped on your head for believing the economy is going to collapse.
ReplyDeleteBankruptcy Filings are actually falling as there are less businesses around to fail. Record profits are made due to stimulas and staff cuts. The fed will say they want to unwind the stimulus measure to try to get people to spend again. If you look at the markets today gold is actually going to go ballistic as the people in the know , know full well, the US is bankrupt and the dollar is finished.
ReplyDeleteIs it me or are they still a lot lower than in 05 and 06?
ReplyDeleteDollar will rally soon, have fun looking at the shiny metal.
7:42 allow me to take over your position. They still alot lower because its low. its lower than 05 because of the number. 06 is bigger than 05. Shiny metal is too shiny for most people so dollar will rally because its GOLDEN. Not like a rally which is a bunch of cars.
ReplyDelete7:42 because of the new bankruptcy laws at that time everyone went bankrupt that wanted/needed to. Now you are seeing a jump in claims because of the ECONOMY COLLAPSE. Easy to read a chart,no?
ReplyDelete