Thousands upon thousands of once thriving businesses are failing, but this just must be another sign that the economy is "fine".  No matter how bad the numbers get, we are assured that the people running things have everything under control and that the outlook for the future is wonderful.  Of course I understand that this is an election year and virtually everyone is trying to put their own unique spin on things.  But there is no possible way that you can make numbers like these look good…

Personal and business bankruptcy filings rose 16.2 percent in the twelve-month period ending June 30, 2024, compared with the previous year.

According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 486,613 in the year ending June 2024, compared with 418,724 cases in the previous year.

Business filings rose 40.3 percent, from 15,724 to 22,060 in the year ending June 30, 2024. Non-business bankruptcy filings rose 15.3 percent to 464,553, compared with 403,000 in the previous year.

Read that last line again.

Business bankruptcy filings were up by more than 40 percent in just one year.

But don't worry.

Everything is "fine".

Sadly, more businesses continue to file for bankruptcy with each passing day.  Earlier this week, I was saddened to learn that even Avon has been forced to file for bankruptcy…

Avon Products filed for Chapter 11 bankruptcy on Monday as the beauty brand looks to address its debt and legal liabilities stemming from lawsuits that alleged its talc-based products were contaminated with cancer-causing substances.