Corporate Bankruptcies Reach Highest Level Since 2010

7.11.23 - Corporate Bankruptcies Reach Highest Level Since 2010

Gold last traded at $1,932 an ounce. Silver at $23.12 an ounce.

32 Tons! Corporate Bankruptcies Reach Highest Level Since 2010, Bank Term Funding Program At $102 BILLION (Total Debt & Unfunded Liabilities = $224.5 TRILLION) -Confounded Interest

The US has passed the 32 trillion mark in national debt, and is going much, much higher. More like 32 tons on the back of taxpayers. When we add unfunded liabilities like Social Security, Medicare and Medicaid, the tab soars to $224.5 TRILLION.

New data show that a growing number of U.S. firms are collapsing under the weight of higher interest rates as corporate bankruptcies reached their highest first-half levels since 2010.

In the first six months of 2023, there were 340 corporate bankruptcies, topping every other comparable span in 13 years, according to S&P Global Market Intelligence. This is up 93 percent from the same time a year ago and higher than in 2020, when there was a spike during the early days of the coronavirus pandemic.

There were 54 recorded corporate bankruptcy filings in June, unchanged from the 54 bankruptcies in May. Last month, some of the most notable companies to submit filings were Lordstown Motors, Rockport Co., Instant Brands Acquisition Holdings, and iMedia Brands.