excalibur
Diamond Member
- Mar 19, 2015
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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.
www.activistpost.com
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]
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.
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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.
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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]
![www.activistpost.com](https://www.activistpost.com/wp-content/uploads/2024/07/bankruptcy-ecb-1024x641-1.jpg)
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](https://www.activistpost.com/wp-content/uploads/2018/04/cropped-icon-32x32.jpg)