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Market Currents

Wednesday, November 4, 2009
1:59 PM TweetThis
  • Consumer bankruptcy filings hit 135,913 in October, an 8.9% jump from September, and 27.9% higher than a year ago. "The debt overhang from literally a decade or more of really high consumer spending and low savings rates has put families in a particularly vulnerable spot," Samuel Gerdano of the American Bankruptcy Institute said. The rise outpaced a 7% M/M increase in business filings.
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This news story has 3 comments:

  •  
    and yet, up we go with more "irrational exuberance"
    Nov 04 02:16 PM | Link | Reply
  •  
    Zero to negative savings rates for the past decade are one of the major reasons, yet Washington is telling people to spend more. Oh well, if they pass the $250 bonus for senior citizens that will give me enough to buy 6 bottles of (foreign made) Scotch.
    Nov 04 02:31 PM | Link | Reply
  •  
    doomisnigh.blogspot.co...
    Looks like the consumer is not the only story.
    Nov 04 03:59 PM | Link | Reply
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