www.abiworld.org/AM/Template.cfm?Section=Home&CONTENTID=58351&TEMPLATE=/CM/ContentDisplay.cfm
The Facts are brutal.
Consumer bankruptcy filings reached 126,434 in July, a 34.3% increase year over year, and a 8.7% increase sequentially (116,365 in June).
Ahhh...The real story here is quite simple. The main driver of GDP Growth is not Wall Street, HFT, or the Treasury Printing Press, its us, the US Consumer. The same US Consumer who has not nearly benefited from the 50% rise in the SPX since March. But alas, don't worry US Consumer, the unemployment rate actually went down last month. Don't you know that we are in the early innings of the greatest bull market in the history of our country? Don't you know that Geithner/Bernanke/Obama will continue to print money so that you the US Consumer can watch Goldman Sachs completely own all that is holy? Don't you know that China will continue to buy our Treasury debt well into the 25Th century?
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