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IPFS News Link • Economy - Recession-Depression

Bankruptcies Spike Again As America's Economic Slowdown Accelerates

• The Economic Collapse Blog - Michale Snyder

Survey after survey has shown that most Americans believe that the economy is on the wrong track.  But those that are running things continue to push their "booming economy" narrative anyway, and I suppose that will continue all the way through the election in November.  Of course anyone with half a brain should be able to see the truth, because day after day we just continue to get more troubling economic numbers.  For example, it is being reported that U.S. corporate bankruptcies "spiked" during the month of August

U.S. bankruptcy filings spiked in August after a slowdown in July, propelling the total for the first eight months of the year to the highest level since 2020 and second-highest since 2010, S&P Global Market Intelligence said Monday.

There were 452 filings in the year through end August, which compares with 466 in the same period in 2020, when the pandemic was still in full swing, and 604 in the same period in 2010.

In August alone, the tally comes to 63, up from a revised 49 in July. That was the third-highest monthly total this year, behind 72 in June and 68 in April.