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Started By
Message
re: What is holding this economy together, I don't get it?
Posted on 9/25/23 at 11:36 am to burger bearcat
Posted on 9/25/23 at 11:36 am to burger bearcat
globalnewswire
quote:
NEW YORK, Sept. 05, 2023 (GLOBE NEWSWIRE) -- There were 634 commercial chapter 11 filings registered in August 2023, an increase of 54 percent from the 411 filings registered in August 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial filings increased 14 percent to 2,328 in August 2023, up from the 2,045 commercial filings registered in August 2022. Small business filings, captured as subchapter V elections within chapter 11, increased 43 percent to 194 in August 2023, up from 136 in August 2022. Total bankruptcy filings were 41,614 in August 2023, an 18 percent increase from the August 2022 total of 35,409. Individual bankruptcy filings totaled 39,286 in August 2023, also registering an 18 percent increase from the August 2022 33,364 filing total. There were 22,887 individual chapter 7 filings in August, a 21 percent increase versus the 18,851 filings in August 2022, and there were 16,341 individual chapter 13 filings in August, a 13 percent increase over the 14,457 filings the previous year.
0
Posted on 9/25/23 at 12:30 pm to burger bearcat
Debt.
There’s gonna be hell to pay.
There’s gonna be hell to pay.
This post was edited on 9/25/23 at 12:31 pm
Posted on 9/25/23 at 12:54 pm to burger bearcat
I'll tell you what's holding it together? The prospect of war with Russia and the EU/NATO belief that America will provide the cannon fodder (bodies) and the 'funny money' to fight the war. Even as I write the leeches are lining up at the feed trough with their hands out looking for their slice of the money. That includes our pals Bill and Hillary Clinton through their 'Clinton Foundation'. Have you heard - they've been appointed the crooks who will rebuild Ukraine. A veritable feeding frenzy.
When corrupt warmongering Joe Biden got in that Oval Office I knew we were headed for war.
When corrupt warmongering Joe Biden got in that Oval Office I knew we were headed for war.
Posted on 9/25/23 at 1:23 pm to TheFonz
quote:
Economics isn’t my thing. All I know it’s what’s in my pocket/bank. I’ve never lived beyond my means. It’s becoming increasingly difficult though. Adjustments have to be made. Maybe for those still spending, adjusting takes longer. Denial. Maybe they just don’t care. Who knows. All I know is that the economy is shite right now.
You’re absolutely right. Economics is not your thing. The economy is in a much better place right now than it was four years ago.
Posted on 9/25/23 at 1:27 pm to dstone12
quote:
But no one is working.
Posted on 9/25/23 at 2:00 pm to dstone12
quote:
I see brand new mustangs and chargers.
But no one is working.
The data belies this last part.
Posted on 9/25/23 at 10:16 pm to Motownsix
How do you figure the economy is better now than four years ago? Are you living in America??
Posted on 9/25/23 at 11:08 pm to RandoBigot
I think the main key to being financial independent or at least freeing is home ownership and having a place that is within your means.
We have a modest 3bd/2bh room house that is 1400 Sq ft in Mobile.
We bought 9 1/2 years ago for just under 100K. Our Mortgage payment including Insurance and property taxes is $580/month.
My wife is a teacher and I do not work because of medical reasons and do not collect Disability. So we have a sole income.
I say this because a friend of ours is in basically the same boat but she rents a 3bd/2bh House of similar size for $1700/month. That is basically half of her monthly bring home.
We have a modest 3bd/2bh room house that is 1400 Sq ft in Mobile.
We bought 9 1/2 years ago for just under 100K. Our Mortgage payment including Insurance and property taxes is $580/month.
My wife is a teacher and I do not work because of medical reasons and do not collect Disability. So we have a sole income.
I say this because a friend of ours is in basically the same boat but she rents a 3bd/2bh House of similar size for $1700/month. That is basically half of her monthly bring home.
Posted on 9/25/23 at 11:14 pm to burger bearcat
Look at sp500 and dow chart. We have a mean head and shoulders pattern. That means it's the last hoorah before big money sell off and crash this thing to 2008 levels.
This post was edited on 9/25/23 at 11:16 pm
Posted on 9/25/23 at 11:38 pm to dcrews
quote:
Older generation lives in a fantasy land where they think nothing has changed over the last 40-50 years
Wow.
Do you really believe that the older generation thinks NOTHING has changed over the last 40-50 years?
Get your head out of your arse.
The older generation realizes that MAJOR CHANGES over the last 40-50 years are a primary factor in the problems we are experiencing today.
Posted on 9/25/23 at 11:43 pm to Northwest Louisiana
quote:
How do you figure the economy is better now than four years ago?
It doesn't really believe that.
It is just trolling for clicks.
Posted on 9/25/23 at 11:52 pm to GusAU
I believe the economy is actually a lot worse, but we are financially better off. Through a series of moves that we put in place.
Posted on 9/26/23 at 12:02 am to GusAU
quote:
Do you really believe that the older generation thinks NOTHING has changed over the last 40-50 years?
There is some truth to this that I have seen several times. There are people like in my dad's generation that cannot wrap their minds about how people in their early 30s with 2 kids can be making 40K+ and are not living high off the hog.
My dad openly brags about the fact that he spent 2-3 years between 1978-81 or 82 where he was bringing home 13-14K dollars a year. He sold Men's shoes at a department store. We had a 4 bd house and 2 cars.
Posted on 9/26/23 at 3:07 am to Hennigan
quote:and smoke and mirrors - all of which will disappear the moment Trump is elected. It all has been positioned that way purposefully.
It appears to be some sort of magic.
Posted on 9/26/23 at 5:16 am to Diamondawg
quote:
Cuban missile crisis, Presidential assassination (in addition to others), Vietnam protests, riots, 4 dead in Ohio, Hurricane Camille, says hold my beer.
Kinda buried the lede there. It’s not the Vietnam protests that mattered. It’s the 58,000 Americans who actually died in a 3rd world shithole halfway around the world who mattered.
Posted on 9/26/23 at 5:22 am to Bard
quote:
Math doesn't care about whistling nor graveyards, it simply does its thing and its thing in this environment is a debt spiral that ends only badly.
Great points. What we don’t know is what we don’t know. Does China’s economy collapse first? Does the Indian subcontinent become the new hub of power as Russia implodes? Does the EU go completely broke? These type of black swan events will greatly impact the depths of the financial crises and the speed at which they arrive.
Posted on 9/26/23 at 5:50 am to ShinerHorns
quote:
Yep. Woke Millennials and lazy Gen Xers completely screwed this country over. We made it too good for them and they are all purple-haired lazy lard asses.
Gen Xers?
Gen X raised itself you self-absorbed frick.Posted on 9/26/23 at 5:56 am to TigerMan327
quote:everything on your list is a creation of US intel complex
In the last 20ish years we’ve had multiple conflicts in the Middle East
Largest terror attack on US soil
Covid
And two depressions.
Besides being in world war 3 I don’t know how you can make that statement
Posted on 9/26/23 at 5:59 am to Tesla
quote:for exactly exactly no reason whatsoever except that US government intel complex willed it...
It’s not the Vietnam protests that mattered. It’s the 58,000 Americans who actually died in a 3rd world shithole halfway around the world who mattered.
seem to be at the core of almost every disaster
Posted on 9/26/23 at 7:31 am to tigerterrace
quote:Did he mention the 14-15% interest rate? I call bullshite on the 4br house on that salary.
he spent 2-3 years between 1978-81 or 82 where he was bringing home 13-14K dollars a year.
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