Bankruptcy Filing Numbers Down Again in 2013

Bankruptcy Filing Numbers Down Again in 2013 "As 2013 comes to a close in September, there are fewer Americans seeking debt relief through bankruptcy. In the 12 months preceding September 2013, the United States had close to 1,1 million bankruptcy filings. This was a slight decrease from the previous year's total of 1.2 million. This appears to be positive news for the economy, but it is bad news for a bankruptcy lawyer. As the government continues to assert that the economy is improving, the unemployment rate and the number of bankruptcies continue to fall. Both numbers appear to increase and decrease simultaneously, which is utterly absurd. It appears that a correction has been made because the stated and actual numbers are different. If I told you the sky was crimson, you would call me crazy, and the government's reported numbers are no different.Various economic statisticians estimate that the unemployment rate is closer to 14% than to 7%. More and more corporations have relocated their operations overseas, leaving the United States as a skeleton of the industrial powerhouse it once was. According to Shadow Stats, the United States is in a depression, but it is not apparent because there are no soup lines. Welfare, food stamps, and unemployment have enabled the mainstream media to conceal the deteriorating economy. During the last depression, there were no government-sponsored social programs, and many families were forced to wait in lengthy food lines.I believe the decline in the number of individuals registering for bankruptcy to relieve debt is due to the increased availability of credit. By means of quantitative easing, the Fed continues to inject $85 billion per month into the markets. In spite of the Fed chairman's repeated assertions that monetary policy will be tightened in the near future, the majority of people do not believe him. In an effort to avoid declaring bankruptcy, Americans continue to put off dealing with their debts, causing their debt ratios to rise. Currently, the total debt to GDP ratio is 105%. The media's constant assertions that the economy is improving and that a job is just around the corner have optimistic Americans borrowing themselves into insolvency.At some point, this available credit will run out, and Americans will be forced to repay their debts. In this scenario, bankruptcy will be the only option for many. Only time will reveal the outcome of this situation. It would be fascinating to ask a bankruptcy attorney from each region and the United States about their economic outlook. Numerous eminent economists believe that the dollar's demise could be imminent, resulting in widespread bankruptcies across the country.
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