Tuesday, October 4, 2011

Personal Bankruptcies Continue to Decline

The recession is really ending. The Federal Reserve distorted boom is next.

Personal bankruptcy filings continued to slow in September, reports WSJ.

The number of consumer bankruptcies dropped 17% to 108,517 in September compared to the same month a year ago, the American Bankruptcy Institute and National Bankruptcy Research Center said Tuesday. So far this year, the number of consumer bankruptcies was 10% lower than the same time period a year ago.


  1. You and your SillyValley comments. I can't get them out of my mind.

    And again here.

    You do So go against the grain.

    Everything seems to be like waves crashing against a wall back on itself.

    Cheaper goods in the future?
    Lower unemployment?
    All the stuff People bought, expecting rising prices, and now some People are saying prices will be lower? Will the People who tried to skirt expectations of rising prices feel burned?

    Will many Austrian economists be made to look bad for their predictions?

    Some days, the more I know, the less I know.
    I Only know, I know Some things.

    No wonder the Mogambo Guru retired.

    Are you saying the housing bubble is being resurrected? It sort of seems that way.
    Ahh, the inhumanity of it all.

    "...collapsing European consumption means there will be less exports from the US and the rest of the world to Europe. This falling consumption will have a devastating effect on US companies and employment for US workers who depend on Europeans to buy their products. As the crisis expands from Europe, there could be depressed consumption of finished goods on a global basis, leading to less exports and less jobs in export industries."

    ... "The full price for the European crisis might be paid in American jobs, with four categories of job losses imperiling the US economy and threatening the standards of living for millions of people. If you are employed in the US, UK, Canada, or Australia (among other nations), don’t pity the continental Europeans, because it may be a European that ends up taking your job." ...


    What to make of it?

    - clark

  2. I mean, So against the grain:

    "...the crash is going to happen sometime this month" - Gerald Celente


    - clark

  3. Likely a decline because there is no one else left to file bankruptcy

  4. Last year was absolutely terrible. This year is less terrible. That doesn't necessarily mean good times are on the way. Why do you not think we could be Japan?

  5. Well these days even Susie Orman ( who I have despised for years) is telling people to walk away from their upside down mortgage if the bank wont renegotiate terms.... If that is everyone's biggest debt and you have no other real assets what the hell is there left to file bankruptcy for?

  6. Could it be because they changed the rules about personal bankruptcies, making it more difficult.