Commercial and individual bankruptcies on the rise across U.S.

The Center Square ^ | 6/2/23 | Tom Gantert

[CFW]

Commercial bankruptcy filings increased 31% in May 2023 from May 2022, according to a report from a company that tracks bankruptcy filings.

There were 2,324 commercial filings in May 2023 compared to 1,771 registered in May 2022, according to Epiq Bankruptcy.

Total bankruptcy filings were 38,669 in May 2023, a 9% increase from April 2023 and a 23% increase from May 2022.

Commercial Chapter 11 filings had the biggest increase, according to Epiq's news release. Those type of bankruptcies increased from 332 in May 2022 to 680 in May 2023.

[CFW]

Well, who didn't see this coming? Small businesses operate on a thin margin. Inflation over the past two years has annihilated any yearly profits usually made. When all a businesses' operating costs increase all at the same time, it's impossible to make a profit and stay in business. The bankruptcy filings will have a rippling effect as the filer's creditors will either receive only partial payment or receive no payment at all. That will put pressure on other businesses and the bankruptcies will increase. Individuals can no longer pay both monthly living expenses and their debt. Bankruptcy may be their only option so those filing will continue to increase as well.

This is not going to end well.

[1of10]

It's not our fault that under capitalized business fail ... said someone I can't remember ..

[rottndog]

Those ‘non-profit’ tax exempt charities run by politicians sure aren’t undercapitalized...

[CFW]

“It’s not our fault that under capitalized business fail ... said someone I can’t remember ..”

---

I believe that was Elizabeth Warren although I can’t find the old articles with that quote. It’s amazing how history is being erased, modified, or hidden in order to promote the government and left’s view on any and everything.

[Leaning Right]

> It's not our fault that under capitalized business fail ... said someone I can't remember .. <

I think Huma Abedin’s girlfriend said that. I can’t remember her name either. But here’s a picture of the couple.

[bankwalker]

it was cankles ...

[himno hero]

C’mon man, the Biden build it back better economy is booming!

Let’s push more Biden bucks into the economy by soaring through the debt ceiling like an eagle/

FJB

[1of10]

“it was cankles ...”

That’s what I’m thinking too.

But I can’t find the quote ... odd
The folks at the ministry of truth are really doing a good job it seems.

[CFW]

“....it was cankles”.

---

Thanks. I found a couple references to her statement.

https://www.chicagotribune.com/news/ct-xpm-1993-10-13-9310130145-story.html

https://archive.triblive.com/ccpa/

[cgbg]

Here is an article on the Hillary quote:

https://www.realclearpolitics.com/2016/06/09/hillary_has_made_our_politics_worse_384415.html

The exact quote:

“I can’t be expected to go out and save every undercapitalized business in America”

[CFW]

Related economy article:

“Illinois residents will soon pay more for everyday items such as gas and groceries”

“After an election cycle freeze on the state’s taxes for groceries and gasoline, the two taxes, among others, are set to increase beginning July 1.

Next month, the state’s gas tax will increase by 6.2 cents to a total tax of 45.4 cents, the second increase since Jan. 1. The state’s tax on groceries will also go back into effect after Gov. J.B. Pritzker put a hold on the tax during last year’s election cycle.”

https://www.thecentersquare.com/illinois/article_0b74100a-0189-11ee-a218-2f37f31e5093.html

[1of10]

” push more Biden bucks “

Now I’m not an “economist” so I could be right ...

But I think we are about to see the battle of the buck.

Push $$ in one end ... inflation ... pull $$ out the other end ..higher interest rates

Sort of like a death spiral.

[himno hero]

Look back at what jimmah did in 1981.
The faulkers stalled the American economy. In doing so, he faulked the western world.

Reasons and intent were different then.
This is an obamian death nail.

[bgill]

Not to worry, the rest of us will foot the bill.

[dragnet2]

Build back better.

[dfwgator]

Build back better.

Means destroying first.

[TalBlack]

I’m in what has always been a downturn proof business but I have serious doubts that massive inflation won’t disprove that this time.

[Scott from the Left Coast]

Fascism marches on.