Bankruptcy-related job losses are grimly reminiscent of the Great Recession

[StraitShot47]

These aren't business cycles, this is what happens when you're economy is driven by debt, consumer spending, and unlimited "growth".

Negative interest rates, inverted yield curves, mass unemployments due to bankruptcies. These are signals a recession is coming.

In 2008 and 2009 around 70,000 people were laid off due to their company filing bankruptcy. Between 2018 and 2019 that number is around 80,000 and were only into july of 2019.

Do what you have to do to before this shit really hits the fan. Work a shitty second or third job. Keep your money out of the banks, or invest it in gold silver and keep it out of the system or in a lock box. Bitcoin has not been tested in a recession, so no one knows how it will perform. Gold and silver won't make you rich, but it will protect you from inflation.

Trump is trying to keep this afloat, but there is only so much he can do with the current system. One can cherry pick that SOME countries invert their yields and not go into recession. But for the US after 3 months of inverted yields, is a GUARANTEED predictor of recession. Which has come to pass.

The tech bomb in 2001, PRIOR TO 9/11, the NASDAQ lost 85%! In this current system, the world is not for the weak. Do what you have to do to secure yourself, and that means work your ass off.

The recent spate of bankruptcies in corporate America is taking its toll.

In the first seven months of the year, U.S.-based companies announced 42,937 job cuts due to bankruptcy, up 40% on the same period last year and nearly 20% higher than all bankruptcy-related job losses last year, a report released this month concluded. Despite record-low unemployment, bankruptcy filings have not claimed this many jobs since the Great Recession.

https://www.marketwatch.com/story/b...-the-depths-of-the-great-recession-2019-08-06

 

[StraitShot47]

Not even two weeks ago $15 trillion of negative yielding debt balloons to $16 trillion.

 

[Lunar Dance 666]

Do what you have to do to before this shit really hits the fan. Work a shitty second or third job. Keep your money out of the banks, or invest it in gold silver and keep it out of the system or in a lock box. Bitcoin has not been tested in a recession, so no one knows how it will perform. Gold and silver won't make you rich, but it will protect you from inflation.

Gold and Silver only have value as long as people think its worth anything. In and of itself its just a barren metal (something that the HP typed on the forums a year ago or so).

The rate on your savings is ridiculously low here too.. they bumped it down even further to 0,02% - Its just not worth it anymore to keep it on your bank account - digital.

 

[The Jackal]

Gold and Silver only have value as long as people think its worth anything. In and of itself its just a barren metal (something that the HP typed on the forums a year ago or so).

Same can be said for dollars or any other banknote in general. At least gold and silver have real world utility so they will always have some sort of value unlike paper notes.

The rate on your savings is ridiculously low here too.. they bumped it down even further to 0,02% - Its just not worth it anymore to keep it on your bank account - digital.

I really don't get people that save money. Depending on where you live you're basically losing money if interest rates are below 2% due to inflation.