posted on Dec, 5 2009 @ 06:14 PM
I have said this for some time now, but was unable to validate my opinion because many people here at ATS tried to keep reitterating the fact that
america's gdp was this or that, and that unemployment was the largest catalyst for our demise!
Well, it's official now, america for the most part is totally bankrupt, and broke, which strengthens an argument I was making in another thread
about "Super-Hyperinflation"! NAFTA, GATT, and other free trade agreements have yanked the carpet out from under all of us hardworking americans!
Please, don't take my word for it, the proof is in the pudding!
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Bankruptcy Filings up 100 Percent from 2007: Americans Financially Unable to Meet Current Debt Payments. 85 Percent of Chapter 7 Filings are
Classified as No-Assets.
Tags: ECONOMY
The U.S. Courts released data last week closing out the 2009 fiscal year. In the release we find that bankruptcy filings are up 100+ percent from
2007. No other economic vehicle shows deeper signs of financial strain than bankruptcy. Bankruptcy is the end of the road for many Americans. Although
businesses file for bankruptcy as well the vast majority of filings come from individuals simply not able to meet the demands of their monthly
payments. Average Americans are looking at the recovery talks but the reality on the street is much different.
www.mybudget360.com...
r-7-filings-are-classified-as-no-assets/