Americans households are about to get hit by a devastating wave of bankruptcies

How can you go bankrupt when you're getting more than $600 a week in funemployment?

This is the wet-dream of TPTB, their Agenda 21 being served to them on a silver platter.

WE have the numbers to turn this disaster around, but no we cower in our homes eating soup made from cold hard stones, our children hungry our wives crying in desperation. Yet we sit, and sit and sit.

1998, a Bug's Life, they rule us by FEAR, fear only. We gave them our power.

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Unemployment is soaring due to the coronavirus pandemic and a wave of consumer bankruptcies is almost guaranteed to follow.
But there are ways that lenders and Congress can help lessen the pain from this bankruptcy wave.
Sushrut Jain is an economist at Edgeworth Analytics. Dr. George Korenko is an economic expert witness at Edgeworth Analytics.

The US has been hit by an unprecedented wave of unemployment since the start of the coronavirus pandemic. Nearly 39 million Americans have filed new unemployment claims and the unemployment rate has hit a staggering 14.7%.

This crisis, however, has yet to roll over into a second wave of consumer bankruptcy filings, with fewer than 40,000 reported in April – a ten-year low for the month.

While businesses and individuals can declare bankruptcy, individuals make up the vast majority of filings. Due to the high correlation between unemployment and consumer bankruptcy, a surge of filings can be expected in the coming weeks.

This will likely result in the contraction of the credit industry, with the most in-need borrowers potentially finding it more difficult to access credit. The magnitude of this bankruptcy wave, however, will be determined by three factors: the amount US households owe divided by the amount they earn, the impact of Congress' attempts to rescue the economy, and what creditors do from here.

Two indicators of bankruptcy
Studies reveal Americans typically file for bankruptcy after costly economic events, like job loss, divorce, illness, or injury. Depending on the study, between 33% and 66% of bankruptcy filers cite job loss as the cause.

Per data from the Bureau of Labor Statistics and American Bankruptcy Institute, there is a near-perfect correlation between the quarterly individual bankruptcy and unemployment rates since 2006. Considering the current drastic unemployment spike, a bankruptcy surge is almost certain to follow.

A high aggregate household debt-to-income ratio can also indicate future bankruptcy filings. Household debt can include mortgages, credit cards, and auto and student loans. In 2007, just before the Great Recession, the aggregate household debt-to-income ratio peaked at 1.24, meaning on average, households had nearly 25%more debt than income. Today, that number is a much healthier 0.95, which should ease the severity of the bankruptcy crisis.

What's left in the supply chain, and mostly that means warehouses, is all there's gonna be. Too few goods being chased by too many people with money that's losing value hourly due to inflation.

Focus on your survival and get ready; or be swept away in the Tsunami that about to hit.


May God Be With You!

SUE. This is not anyone's fault, they were doing the best they could but their businesses and homes ARE NOT OPTIONAL OR UP FOR GRABS TO THE GLOBALISTS WHO DID THIS ENTIRE PANDEMIC.

SUE.

SUE.

SUE.

SUE.

Americans are within the Tsunamic Wave that focuses the energy of a Currency Collapse.


Lots Going On. The covid is more for distraction and bought some time. While you are seeking to recover your Constitutional Rights, the supply chains are drying up. All the while, the $23 Trillion of acknowledged Natl Debt has been increased to over $30 T by the emergency funds authorized for Corona contingencies.

In reality, the monetary collapse began before Fall of 2019. In reality, all fiat currencies are in collapse.
In reality, China is even worse-off than America, monetarily and politically.

But back to matter at hand. We're ALL caught-up in The Wave. All going to be impacted...

Your survival depends on your capacity for self-sufficiency.
Bankruptcy is the least of our worries.


Under the Keynsian Model, debt cannot ever be repaid, because the "money" to repay was never created and put into the system. It was known from the beginning that collapse was baked into the cake that was fiat money. The can has been kicked down the road all the way to a bricked-up alleyway. No more room to maneuver, collapse is upon us.

Betrayal and Treason was essential in the mix of political decisions. Bush Jr could have dealt with the derivatives fraud, but let them serve their WMD purpose. How does a contract work if it requires about .0001% of funding to execute it, and obligates both parties without either one actually delivering a service or capital payment? The fraud of the derivative serves to smokescreen and decoy responsibility away from the guilty parties. Rather like the Covid is being blamed for the events that began late last Summer.

The Chinese Factory shutdown began in mid-Jan 2020, in preparation for Chinese New Year Holiday. All existing export orders that could be shipped, are always shipped in anticipation of the Holiday shutdown. No one anticipated the Complete Shutdown, and there has been no real resumption of production, much less further exports, since Dec/Mid-Jan...

So... Import resources are gone.
What's in the Supply Channels of America is all there is.
International shipping data shows collapse.
There aren't new resources just awaiting orders to spool up and deliver.

The world has fucked itself; or those globalists who came to power to run things more efficiently have...

World supply lines mostly route through China... Raw material processing, manufacturing components, and finished products of all kinds; Most Everything routed through China. There is not enough capacity elsewhere or facilities, to enable smooth transition away from China.

Much more fucked than just bankrupt...

Bankruptcy only works when rule of law exists.
We've seen no rule of law is applicable to TPTB.

The society is in collapse.
Just look at the state governments acting with tyranical dictate. How long will their enforcement agents serve after the paper-money is no longer a working commodity?

All paper assets will lose their market values and conversion opportunity. What's a share of stock worth if there is no-bid? What's a contract worth if neither party can deliver?

How might the Chinese production lines resume if transport companies have bankrupted and their ships and planes have lien enforcement keeping them idle?


What's left in the supply chain, and mostly that means warehouses, is all there's gonna be. Too few goods being chased by too many people with money that's losing value hourly due to inflation.

Focus on your survival and get ready; or be swept away in the Tsunami that about to hit.


May God Be With You!

Lester stated it incredibly well - (thank you). You want the truth? Come to GLP - we have been warned

The end game is a One World Government, TPTB want everyone under foot, actually under their Jack-Boot .. all of us cowering and half-starved as we work as slaves to feed this insatiable beast.

Thanks democRatz

I hope that people realize they must prepare for total self-sufficiency.

Anyone who trusts the government in any way or expects anything from them is in a very precarious and dangerous situation.

Yes,its everything pretty much from china. I have been getting my vehicles dialed in,and my house repairs and needs done NOW as things just arent going to be there,its coming at light speed now.

WAKE UP PEOPLE!!!

Prepare to live in a DEPRESSION,do it now or it will be too late..guaranteed!

Im trying to be prepared on the financial side for several years of total FUBAR. Cash in hand,not in the banks.

On the supply side,get NOW what isnt going to be around after current supply sells out.It wont be replenished for a long time its looking like.

This is like watching a train wreck in slow motion. We just had the initial impact but the derailment and the momenteum of the wreckage is yet to happen.

It’s the small things like trying to buy a pair of shoes that get your attention and make you pay attention. Spent “hours” trying to purchase new bed sheets. This should have taken me 5 minutes! Even went to Target, shelves were almost empty. Shelves were empty of other items as well. If supply chains were healthy or coming back this should not be a problem. Shut down has always been about more than Chinese virus.

No one will file for bankruptcy! it cost about 800 to do that.
when there out of money there just walk away from it all.
pay off your car to live in it! no homes are being forclosed from C-19 as of now in MLPS just from before the c-19 ones are coming soon as state opens up on june 1st i hope.

[link to www.businessinsider.com (secure)]

Unemployment is soaring due to the coronavirus pandemic and a wave of consumer bankruptcies is almost guaranteed to follow.
But there are ways that lenders and Congress can help lessen the pain from this bankruptcy wave.
Sushrut Jain is an economist at Edgeworth Analytics. Dr. George Korenko is an economic expert witness at Edgeworth Analytics.

The US has been hit by an unprecedented wave of unemployment since the start of the coronavirus pandemic. Nearly 39 million Americans have filed new unemployment claims and the unemployment rate has hit a staggering 14.7%.

This crisis, however, has yet to roll over into a second wave of consumer bankruptcy filings, with fewer than 40,000 reported in April – a ten-year low for the month.

While businesses and individuals can declare bankruptcy, individuals make up the vast majority of filings. Due to the high correlation between unemployment and consumer bankruptcy, a surge of filings can be expected in the coming weeks.

This will likely result in the contraction of the credit industry, with the most in-need borrowers potentially finding it more difficult to access credit. The magnitude of this bankruptcy wave, however, will be determined by three factors: the amount US households owe divided by the amount they earn, the impact of Congress' attempts to rescue the economy, and what creditors do from here.

Two indicators of bankruptcy
Studies reveal Americans typically file for bankruptcy after costly economic events, like job loss, divorce, illness, or injury. Depending on the study, between 33% and 66% of bankruptcy filers cite job loss as the cause.

Per data from the Bureau of Labor Statistics and American Bankruptcy Institute, there is a near-perfect correlation between the quarterly individual bankruptcy and unemployment rates since 2006. Considering the current drastic unemployment spike, a bankruptcy surge is almost certain to follow.

A high aggregate household debt-to-income ratio can also indicate future bankruptcy filings. Household debt can include mortgages, credit cards, and auto and student loans. In 2007, just before the Great Recession, the aggregate household debt-to-income ratio peaked at 1.24, meaning on average, households had nearly 25%more debt than income. Today, that number is a much healthier 0.95, which should ease the severity of the bankruptcy crisis.

Everyone should have at least 6 months of expenses stashed away. Just use that.

How can you go bankrupt when you're getting more than $600 a week in funemployment?

Now is the time to hang the bankers.

Already seeing it here in my Mpls. suburb. Homes around here are foreclosing.

Absolute minimum.Im trying to get 10 years of taxes put by.Using 1929 as my guide,they had 10 years bad news.

wealthy connecticut has homes4sale and a local suicide in the newspaper

Now is the time to hang the bankers.

Everyone should have at least 6 months of expenses stashed away. Just use that.

Americans are within the Tsunamic Wave that focuses the energy of a Currency Collapse.


Lots Going On. The covid is more for distraction and bought some time. While you are seeking to recover your Constitutional Rights, the supply chains are drying up. All the while, the $23 Trillion of acknowledged Natl Debt has been increased to over $30 T by the emergency funds authorized for Corona contingencies.

In reality, the monetary collapse began before Fall of 2019. In reality, all fiat currencies are in collapse.
In reality, China is even worse-off than America, monetarily and politically.

But back to matter at hand. We're ALL caught-up in The Wave. All going to be impacted...

Your survival depends on your capacity for self-sufficiency.
Bankruptcy is the least of our worries.


Under the Keynsian Model, debt cannot ever be repaid, because the "money" to repay was never created and put into the system. It was known from the beginning that collapse was baked into the cake that was fiat money. The can has been kicked down the road all the way to a bricked-up alleyway. No more room to maneuver, collapse is upon us.

Betrayal and Treason was essential in the mix of political decisions. Bush Jr could have dealt with the derivatives fraud, but let them serve their WMD purpose. How does a contract work if it requires about .0001% of funding to execute it, and obligates both parties without either one actually delivering a service or capital payment? The fraud of the derivative serves to smokescreen and decoy responsibility away from the guilty parties. Rather like the Covid is being blamed for the events that began late last Summer.

The Chinese Factory shutdown began in mid-Jan 2020, in preparation for Chinese New Year Holiday. All existing export orders that could be shipped, are always shipped in anticipation of the Holiday shutdown. No one anticipated the Complete Shutdown, and there has been no real resumption of production, much less further exports, since Dec/Mid-Jan...

So... Import resources are gone.
What's in the Supply Channels of America is all there is.
International shipping data shows collapse.
There aren't new resources just awaiting orders to spool up and deliver.

The world has fucked itself; or those globalists who came to power to run things more efficiently have...

World supply lines mostly route through China... Raw material processing, manufacturing components, and finished products of all kinds; Most Everything routed through China. There is not enough capacity elsewhere or facilities, to enable smooth transition away from China.

Much more fucked than just bankrupt...

Bankruptcy only works when rule of law exists.
We've seen no rule of law is applicable to TPTB.

The society is in collapse.
Just look at the state governments acting with tyranical dictate. How long will their enforcement agents serve after the paper-money is no longer a working commodity?

All paper assets will lose their market values and conversion opportunity. What's a share of stock worth if there is no-bid? What's a contract worth if neither party can deliver?

How might the Chinese production lines resume if transport companies have bankrupted and their ships and planes have lien enforcement keeping them idle?


What's left in the supply chain, and mostly that means warehouses, is all there's gonna be. Too few goods being chased by too many people with money that's losing value hourly due to inflation.

Focus on your survival and get ready; or be swept away in the Tsunami that about to hit.


May God Be With You!