We Haven’t Seen A “Historic Surge” Of Corporate Bankruptcies Like This Since The Great Recession

[excalibur]

All too often, the stock market is a poor indicator of economic reality. The hopes of interest rate cuts is keeping an overpriced market high.

But reality is that there's a neagative growth in full-time employment, and add this into the mix and you get a dose of reality.

...

There is a “historic surge” of corporate bankruptcies underway in the U.S., as debt-saddled companies struggle to adjust to the new era of high interest rates.

New figures published by S&P Global Intelligence show that 75 companies filed for bankruptcy in June, the highest number recorded in a single month since early 2020 at the height of the COVID-19 pandemic. That pushed this year’s total number of bankruptcies so far to 346, which is notably higher than comparable levels seen in the past 13 years.

Before this, the highest half-year figure recorded was in 2010, with 437 companies filing for bankruptcy from January through June.

...

Discount retail chain Big Lots said it will close up to 40 stores this year and may declare bankruptcy.
The Columbus, Ohio-based company wrote in a quarterly Securities and Exchange Commission filing it expected further operating losses and has “substantial doubt” it can continue as a functioning business.
Big Lots last month reported a net loss of $205 million in the quarter ending May 4, 2024.

...

A 2023 survey conducted by Payroll.org highlighted that 78% of Americans live paycheck to paycheck, a 6% increase from the previous year. In other words, more than three-quarters of Americans struggle to save or invest after paying for their monthly expenses.

Similarly, a 2023 Forbes Advisor survey revealed that nearly 70% of respondents either identified as living paycheck to paycheck (40%) or—even more concerning—reported that their income doesn’t even cover their standard expenses (29%).

There is no way to spin those numbers in a positive manner.

Any way that you look at them, they are absolutely horrible.

The middle class is being ripped to shreds, and those that are running the system seem to be all out of answers.[/b]​

We Haven’t Seen A “Historic Surge” Of Corporate Bankruptcies Like This Since The Great Recession - Activist Post

Times have changed. Today, most Americans have very little discretionary income.

www.activistpost.com

 

[sparky]

we're a bankrupt nation that refuses to admit it

jmho

~S~

 

[Doc7505]

we're a bankrupt nation that refuses to admit it

jmho

~S~

~~~~~~
Obama drove America to bankruptcy when he gave the Fed Reserve the okay to print more and more money. He flooded the market with greenbacks.
In essence Obama devalued the dollar by printing to many dollars.

Printing Money – and Its Price (Published 2008)

The future seems a distant concern now. But Washington is spending as we once did.

www.nytimes.com

**********​

https://www.forbes.com/sites/charleskadlec/2012/09/14/the-feds-

futile-effort-to-bail-out-obamanomics/

**********​

https://www.wsj.com/articles/SB122973431525523215

 

[surada]

All too often, the stock market is a poor indicator of economic reality. The hopes of interest rate cuts is keeping an overpriced market high.

But reality is that there's a neagative growth in full-time employment, and add this into the mix and you get a dose of reality.

...







...



...





There is no way to spin those numbers in a positive manner.

Any way that you look at them, they are absolutely horrible.

The middle class is being ripped to shreds, and those that are running the system seem to be all out of answers.[/b]​

We Haven’t Seen A “Historic Surge” Of Corporate Bankruptcies Like This Since The Great Recession - Activist Post

Times have changed. Today, most Americans have very little discretionary income.

www.activistpost.com

Over two hundred US oil companies declared bankruptcy in 2020.

The middle class has been shrinking since Dubya was president.

 

[theHawk]

All too often, the stock market is a poor indicator of economic reality. The hopes of interest rate cuts is keeping an overpriced market high.

But reality is that there's a neagative growth in full-time employment, and add this into the mix and you get a dose of reality.

...​

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There is no way to spin those numbers in a positive manner.​

​

Any way that you look at them, they are absolutely horrible.​

​

The middle class is being ripped to shreds, and those that are running the system seem to be all out of answers.[/b]​

We Haven’t Seen A “Historic Surge” Of Corporate Bankruptcies Like This Since The Great Recession - Activist Post

Times have changed. Today, most Americans have very little discretionary income.

www.activistpost.com

The idea that the stock market represents the US economy has always been a lie.

99% of US companies are not publicly traded, and the stock market also only represents the top tiered companies that are publicly traded.

 

[toobfreak]

A 2023 survey conducted by Payroll.org highlighted that 78% of Americans live paycheck to paycheck, a 6% increase from the previous year. In other words, more than three-quarters of Americans struggle to save or invest after paying for their monthly expenses.

I just saw a report that nearly 40% of americans now hold some second job on the side just to make ends meet.

 

[Doc7505]

Over two hundred US oil companies declared bankruptcy in 2020.

The middle class has been shrinking since Dubya was president.

~~~~~~
Moody downgraded the U.S from AAA to AA in 2011 and again in Novemeber 2023.
Are you denying these facts?

Moody’s Says U.S. Debt Could Test Triple-A Rating (Published 2010)

The ratings of the United States, Britain, Germany and France are stable, but “their ‘distance-to-downgrade’ has in all cases substantially diminished,” Moody’s Investors Service said.

www.nytimes.com

**********​

US loses AAA credit rating after S&P downgrade

Leading credit rating agency Standard & Poor's downgrades America's top-notch AAA rating for the first time ever, amid concerns over US debt.

www.bbc.com

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U.S. Debt Credit Rating Downgraded, Only Second Time In Nation’s History | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

**********​

https://www.politico.com/news/2023/11/10/u-s-debt-in-danger-of-downgrade-by-moodys-as-shutdown-looms-00126680

 

[1srelluc]

I saw Big Lots in there.....Small wonder they are going under. They went from a mega dollar store to a half-ass furniture store....At least in their case it seems more of a poor business model.

 

[sealybobo]

we're a bankrupt nation that refuses to admit it

jmho

~S~

We could pay off the debt if we just collected the money rich people owe but don't pay.

President Donald Trump’s economic policies are so bad, so baffling, and so poorly communicated that CNBC host Jim Cramer wonders if he’s deliberately trying to cause a recession.

I said this about the Bush Great Recession. It sure seemed like it was on purpose. Happened right when Bush was leaving office. Had to be on purpose.

Global markets have significantly outperformed U.S. stocks since Trump’s inauguration.

“So ... is [Trump] playing with fire?” Quintanilla asked.
“Absolutely,” Cramer shot back. “But is it arson?”
Quintanilla gave him an opening to temper the charge: “Meaning that you can contain the blaze, is that what you’re saying?”

“No,” said Cramer. “Maybe it’s deliberate!”
“And it doesn’t make any sense,” Cramer continued. “People are scared, Carl. You don’t scare people. You don’t scare ... It’s just. It’s a wrong call. It’s all message. People are scared!”

 

[sparky]

m-m-m-maybe Sealy

I just find eggs, gasoline, oil ,taxes, or even the stock market superficial metrics for our economic well being

~S~

 

[Doc7505]

We could pay off the debt if we just collected the money rich people owe but don't pay.

President Donald Trump’s economic policies are so bad, so baffling, and so poorly communicated that CNBC host Jim Cramer wonders if he’s deliberately trying to cause a recession.

I said this about the Bush Great Recession. It sure seemed like it was on purpose. Happened right when Bush was leaving office. Had to be on purpose.

Global markets have significantly outperformed U.S. stocks since Trump’s inauguration.

“So ... is [Trump] playing with fire?” Quintanilla asked.
“Absolutely,” Cramer shot back. “But is it arson?”
Quintanilla gave him an opening to temper the charge: “Meaning that you can contain the blaze, is that what you’re saying?”

“No,” said Cramer. “Maybe it’s deliberate!”
“And it doesn’t make any sense,” Cramer continued. “People are scared, Carl. You don’t scare people. You don’t scare ... It’s just. It’s a wrong call. It’s all message. People are scared!”

It would have been a start if Hunter Biden had paid all the taxes he evaded paying on the millions he made as a foreign agent using his fathers influence.

 

[sealybobo]

It would have been a start if Hunter Biden had paid all the taxes he evaded paying on the millions he made as a foreign agent using his fathers influence.

Peanuts compared to the Trump's.