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Debt Ceiling Quantitative Easing - Will the Economy Cause Many More to File Bankruptcy?

Debt Ceiling Quantitative Easing - Will the Economy Cause Many More to File Bankruptcy?
"In September 2012, the Federal Reserve announced that it would increase quantitative easing to assist the economy. It failed the first three times, and I have no idea why they believe it will succeed this time. It is fairly evident that the wealthy are plundering the coffers. As an increasing number of Americans face the possibility of filing for bankruptcy, the affluent become wealthier. Looking at the statistics, we can see that American debt ratios have increased dramatically over the past decade. The average American has $15,185 in credit card debt, $31,509 in student loan debt for college graduates, and a mortgage of $147,133. This results in a national total of $11.13 trillion in consumer debt.As commodity prices continue to rise, an increasing number of Americans will soon declare bankruptcy. The unemployment rate has hovered just below 8% for nearly four years, if you believe that 8% is the actual rate. If the Department of Commerce used the unemployment formula from the 1970s, unemployment would be over 16% today, according to economists. The debt ceiling has just been raised by Congress, bringing the national debt above $17 trillion. Many experts believe that the United States' unfunded liabilities exceed $100 trillion.The media has lured the United States to sleep with reality television and fake news programs. People who are in debt and unemployed should not wait for things to improve before consulting a bankruptcy attorney regarding filing for bankruptcy. Why wait for things to improve when they appear to be rapidly deteriorating? Utilizing Chapter 7 bankruptcy, individuals must safeguard their current assets and eliminate debt. Chapter 7 bankruptcy eliminates all unsecured debts and may leave the debtor virtually debt-free after discharge. The credit industry does not want Americans to know this and has spent a significant amount of time and money cultivating a stigma that makes bankruptcy filing unpopular.Recently, banks are once again injecting inexpensive money into the economy through the credit card system. The majority of this inexpensive credit comes with elevated interest fees following the initial trial period. Some cards that begin at 6% end up increasing to 18 to 21%, setting the player up for failure. As salaries continue to decline and living expenses continue to rise, it appears inevitable that many Americans will declare bankruptcy in the coming years.
" - https://www.affordablecebu.com/

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"Debt Ceiling Quantitative Easing - Will the Economy Cause Many More to File Bankruptcy?" was written by Mary under the Finance / Wealth category. It has been read 213 times and generated 1 comments. The article was created on and updated on 31 May 2023.
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