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Default Wave Arrives: Weekly Bankruptcy Filings Suddenly Soar Most In 11 Years
One month ago, when looking at the recent flurry of chapter 11 filings and a striking correlation between the unemployment rate and loan delinquencies, we said that a "biblical" wave of bankruptcies is about to flood the US economy. image It appears that the wave has now arrived, because according to Bloomberg data, no less than 13 US companies sought bankruptcy protection last week, matching the peak of the global financial crisis. The filings, led by the perennially weak consumer and energy sectors, were the most for any week since May 2009. image At a time of pervasive service closures, it is not ... (full story)
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- rene5555
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- 4for4
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Market is not random but unpredictable
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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Compulsions can be hard to resist
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