Bankruptcy Filings up 33 Percent over a 12-month Period: Total 12-month Total of Bankruptcy Filings 1.2 Million. In last Report, Filings up 27 Percent in one month.
Bankruptcy filings are soaring in the United States. In the last data point, we had 134,282 bankruptcy filings for the month of March 2009. Bankruptcy data usually lags 3 or 4 months but the trend is ominous. For the last 12 months some 1.2 million bankruptcy filings have occurred. Much of this is linked to […]
The Doctrine of Preemptive Bailouts and the Biggest Bailout you haven’t Heard About: The U.S. Treasury Plan C and the $3.5 Trillion You will be Paying.
Last week a story which gained very little traction hit the financial newswires. The U.S. Treasury is working on an internal project informally called “Plan C” which seeks to deal with further problems in the economy before they occur. The anonymous report came out stating the administration is reluctant to commit any additional money especially […]
Housing and Banking Deception: 23,000 to 28,000 Foreclosed Homes kept off the MLS or Public View in California each Month.
The math in California housing simply does not add up. Given the amount of sales and monthly foreclosures over the past few months, it would appear that banks are sitting back while a gigantic backlog of foreclosures grows. A few in the media are calling attention to this obvious fraud but not many. The California […]
The Country that Punishes Savers: Americans Saving 7 percent of Income Putting nearly $800 Billion Annual Rate on the Sidelines. Banks offering 0 to 0.10 Percent to Borrow Your Money.
Americans are increasingly putting more and more money on the sidelines. For the month of May Americans put away 6.9 percent of their income into savings. Not the stock market or real estate but bona fide savings. This is a stark contrast from the zero rates achieved back in April of 2008. When we discussed […]