U.S. Bankruptcies Spike 35% in One Month

22 Apr

Bankruptcies are admittedly a “lagging indicator” in any economic down-turn. However, reading a New York Times article which reported that March U.S. personal bankruptcies had increased by 35%, month-over-month, from February; this was clearly a news item which warranted a closer look.

The details are an even clearer warning sign that both the “bottom” in the U.S. housing market, and the “job growth” reported by the Bureau of Labor Propaganda are nothing but the “smoke and mirrors” of private sector shills, and/or government propagandists – dutifully reported by the mainstream media-parrots.

With U.S. bankruptcy laws dramatically tightened in October 2005, U.S. personal bankruptcies have been much lower in this new era of stricter, more punitive provisions. Not so any more. There were 158,000 U.S. bankruptcy filings in March, equal to 6,900 per day.

“Even with the restrictive new law, we're back up over where we were before the law changed,” reported Mike Bickford, president of Automated Access to Court Electronic Records (or “Aacer”). The numbers were also 19% higher than March 2009, and broke the previous “record” of October during this U.S. Greater Depression.

People with jobs don't (and likely can't) file for bankruptcy in the U.S. So the”spike” in bankruptcies (which comes directly from court records), and the jobs “estimate” of the Bureau of Labor Propaganda are directly contradictory

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