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Bankruptcy Filings Up 13%
Per U.S. District Court, bankruptcy filings in the United States is up 13% and surging higher. Inflation, high rates, and cost of goods and services are leading cause of unemployment and financial crisis among Americans.
https://www.uscourts.gov/news/2023/10/26/bankruptcy-filings-rise-13-percent
uscourts.gov
Bankruptcy Filings Rise 13 Percent
Total bankruptcy filings rose 13 percent, and business bankruptcies rose nearly 30 percent, in the twelve-month period ending Sept. 30, 2023. This continues a moderate rebound after more than a decade of sharply dropping totals.
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7 Replies
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I could not stomach the debates yesterday when Joe Biden was saying he fixed the solution former President Donald Trump made. Amazing how this Senile Old man thinks he is a good President. Joe Biden is the worst President of the United States hands down. A total moron with zero percent respect from both the American people and the people of the World. What is wrong with Jill Biden? That no good POS wants the prestige and power of being the First Lady of the United States at all expense that he is letting her husband with demetia witch is deteriorating out of control make a total jack ass of himself in the world stage. Let the man check in to hospice and live the rest of his life in peace.
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Joe Biden is a danger to American people and a major danger to humanity.
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Lol. LMAO. Joe Biden actually thinks he’s a great president and won 81 million votes? Are you kidding me? Joe Biden must have stage IV dementia.
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Supreme Court Drops Two of Four Charges From January 6th, 2020 Resurrection. Impacts Jack Smith. Win For Former President Donald Trump.
https://www.youtube.com/live/VU9GnSgI8Xc?si=oL0D2xel7WQZjcCB
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Jill Biden is such a greedy no good selfish person for letting her senile mentally ill husband Joe Biden make a total Jackass in front of the World. Joe Biden should not only run for President but should not be on national television in his mental state. Jill Biden wants to remain being the First Lady at all costs.
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Jill Biden needs to get Joe Biden some medical and pychiatric help.
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According to the U.S. District Court, bankruptcy filings in the country have risen by 13% recently. Among the causes for this rise are inflation, high interest rates, and increasing costs of goods and services that continue to burden businesses and consumers alike. These aspects add up to financial pressure which leads to unemployment thus forcing people into insolvency. Inflation erodes purchasing power hence making basic needs expensive thereby causing households struggle with meeting their obligations leading them into financial difficulties. The Bureau of Labor Statistics has reported a slow but steady growth rate in inflation that has affected items like housing, food or even transport which are essential needs for everyone. Higher than usual percentages attached on borrowed money increases its cost throughout every aspect where it is applied; starting from mortgages up until credit card debts rendering repayments impossible by borrowers including organizations eventually defaulting altogether. To curb rising prices caused by inflationary pressures arising from an overheating economy characterized rapid growth rate coupled with low unemployment levels; fed raises rates so as reduce spending power among borrowers while trying contain spiraling debt bubble especially when many had already taken advantage low borrowing costs during periods preceding recession thus unable afford repaying back loans given current conditions prevailing now having higher interest payable amounts due after rates went up following policy tightening move made earlier on which led increases across board within financial market sectors mainly affecting consumers negatively through increased monthly installments required meet contractual agreements reached between lenders-borrowers relationship management processes were put place without considering consequences associated several factors contributing towards individual being declared bankrupt after failing honor repayment terms agreed upon initially taking out respective borrowings meant addressing immediate personal business needs could not otherwise have been met without external intervention necessitated such actions become necessary under these circumstances besides other issues mentioned above relating global economic crisis experienced over last decade. When prices rise in different sectors, even people with steady incomes will find themselves unable to afford some items or services they used easily buy hence creating demand collapse scenario where suppliers may not sell their products leading losses for them if prolonged since higher sales volumes are required cover costs associated production thus causing bankruptcy declaration events take place more often than usual during such periods marked by financial instability caused due inability meet operational obligations arising revenue shortfalls experienced as result reduced spending capacity among consumers who would have otherwise purchased goods produced firms operating within affected industries. Consumer price index reports have shown significant growth rates recorded over past one year period alone which clearly indicates general level becoming more expensive each passing day thereby affecting ability an average person meets his/her basic needs regularly over specified period without experiencing any difficulties whatsoever especially now when majority income earners finding increasingly hard cope up given prevailing circumstances surrounding current wave covid pandemic impact felt across many sectors including but not limited health education food security housing among others directly indirectly impacting various aspects life society large thus necessitating urgent intervention order prevent further deterioration condition living standards vast majority population globally who already struggling make ends meet under normal conditions let alone during times like these characterized heightened uncertainty about future prospects related personal financial well-being. Job cuts together with reduced earnings act as catalysts towards instigating immediate problems money management resulting into insolvency. Unemployment serves as a direct cause for rising poverty levels since it deprives individuals of the means to sustain themselves and their families thereby pushing them towards filing bankruptcies whenever all other avenues have been exhausted. Indicators from the U.S. Bureau of Economic Analysis have revealed that there are fluctuations being witnessed within employment numbers across different industries thereby aggravating financial hardships faced by many Americans. The recent 13% rise in bankruptcy filings illustrates how Americans’ financial situation is deteriorating rapidly. Local economic contexts have driven an increase in insolvencies more than others due to job losses within key sectors. People undergoing bankruptcy experience great emotional stress and financial strain, which can affect them for years afterwards i.e., inability to get credit cards, renting apartments or obtaining employment. A sudden spike in bankruptcies may indicate wider economic malaise; this could lead towards tight credit environment as well reduced consumer spending thereby causing further damage across various industries. We need to comprehend these causes of increased bankruptcies alongside their wide-reaching effects if we want figure out what is wrong with most Americans’ wallets now so that can begin fixing it later on during our recovery journey from the current financial crisis which has affected majority people throughout globe over past decade or so.