Continued Quantitative Easing Will Cause Bankruptcy Filing For Many Americans

Continued Quantitative Easing Will Cause Bankruptcy Filing For Many Americans "Since the market crash of 2007 the Fed has been injecting currency into the economy as a means of sustaining economic growth. What the majority of people do not realize is that this is nothing more than cash manufacturing, or what they refer to as digitizing money. The difference between printing money and digitizing is that the latter simply adds zeros to the bank accounts to increase the quantity of money available. Quantitative easing has resulted in hyperinflation in every country that has attempted it in the past. This was best illustrated by the Weimar Republic. Nationally, petroleum prices are approaching four dollars per gallon, and it is becoming evident that inflation is becoming a problem. As a result of living paycheck to paycheck, many Americans may be forced to declare bankruptcy if their living expenses rise.Numerous economists are currently observing an increase in debt ratios. When banks increase their balance sheets by loaning out money, they are essentially creating currency out of thin air, which the majority of people do not comprehend. Given the continued increase in the cost of living and the decline in income, it is not surprising to hear an expert discuss the possibility of mass bankruptcy filings in the future. During the political season, everyone desires to stimulate the economy in order to reelect their candidate. This is nothing more than smoke and mirrors, as over 1 million Americans still file for bankruptcy each year. In fact, it is anticipated that close to 1.1 million Americans will file for bankruptcy in the United States in 2013. The majority of economists believe that this is the calm before the tempest and that an even greater number of individuals will declare bankruptcy within the next couple of years.People need to comprehend that they cannot win this conflict. The United States will be one calamity away from a catastrophe if they continue to leverage themselves into oblivion. People who live beyond their means are likely to file for bankruptcy at some point in the future. If they are unable to continue making minimum payments on their credit cards, their finances will rapidly spiral out of control in the event of a medical bill, car accident, or even something as simple as a car breaking down. This is when the wheels truly fall off, and in the majority of cases, only a bankruptcy filing can restore sanity. Filing for bankruptcy will stop creditors from being aggressive and allow the individual to regain financial stability due to the automatic stay. However, bankruptcy also has a negative effect on one's credit. However, if one considers the mountain of debt that the majority of Americans now bear, it becomes clear that without bankruptcy, most people would not be able to pay it off in their lifetime.
" - https://www.affordablecebu.com/