As bad economic news continues to surface around the globe DebtFreeBankruptcyAttorney.Com continues to be vigilant watching for the warning signs of a severe economic downturn like never seen before. The mainstream media continues to selectively report on news that has no real merit when major events have been taking place over the recent months.
Huntington Beach, CA -- (SBWIRE) -- 02/22/2013 -- As bad economic news continues to surface around the globe DebtFreeBankruptcyAttorney.Com continues to be vigilant watching for the warning signs of a severe economic downturn like never seen before. The mainstream media continues to selectively report on news that has no real merit when major events have been taking place over the recent months. The professionals at http://DebtFreeBankruptcyAttorney.Com are keeping a close eye on the currency wars and inflation as it is heating up here in the US. Since the beginning of 2013, middle America has been facing an increase in payroll taxes, as well as increased gas and grocery prices. The media continues to blame the increased gas prices on the oil companies. DFBA believes that these increased living expenses are being caused by the quantitative easing that the Fed is doing. The Fed is currently printing $85 billion a month and pushing it out to the member banks to buy mortgage-backed securities. It appears that all these cost increases to the consumer could lead to bankruptcy filing in the near future. With the banks having this new found wealth, the standards for lending have once again been relaxed and now banks are increasing available credit to individuals that are struggling to make ends meet. The experts at DFBA believe this is the cause for the reduction in the number of Americans filing for bankruptcy in 2012. Americans are now capable of kicking the can down the road by borrowing more money to pay off other debts. The federal government is on the verge of filing bankruptcy themselves as they continue to borrow the American people into oblivion.
The experts at DebtFreeBankruptcyAttorney.Com have compiled a list of 10 signs of why they believe the US economy is in big trouble and many Americans will be filing for bankruptcy in the near future.
1. The price of gasoline has risen $.51 since the beginning of the new year. As most Americans are now living paycheck to paycheck adding this additional expense could send them in to bankruptcy.
2. At the end of 2012, it was reported that global cell phone sales are now on the decline since the end of the last recession.
3. An article in Yahoo finance listed store closings for 2013 in the US. The list was comprised of major retailers like Best Buy, Sears, JCPenney, Office Depot Barnes & Noble, RadioShack and others. This article reported of each company closing between 100 to 500 stores nationwide. DFBA concluded from this information that this will have a huge impact on an increase in unemployment and bankruptcy filing.
4. The GDP of the 34 Organization for Economic Cooperation and Development members fell .2% globally.
5. The 2012 GDP for the US was at a low 1.5% showing the recession never left.
6. It has been reported that Hedge funds and corporate insiders are dumping large amounts of stock right now.
7. The Consumer Confidence Index as reported by the Conference Board is at the lowest it has been in more than a year.
8. Last week an internal memo from a Wal-Mart executive was leaked to the press. It was reported to have said that the February sales for the retail giant, was a total disaster. DFBA attributes the decline to the increase in payroll taxes and higher commodity prices.
9. The President admitted that the sequester might have a crippling effect on the US economy.
10. This CBO stated if the sequester is allowed to go into effect the growth of the US GDP will go down by an additional .6% and the US will lose 750,000 jobs.
This is just a small piece of the puzzle that the professional staff at DFBA continues to keep a close eye on. They believe that it's not just one event that will cause a severe economic downturn causing many to file bankruptcy. A perfect storm is being created globally as the currency wars heat up in the global economy continues to jockey for power. DebtFreeBankruptcyAttorney.Com will continue to spend countless hours unraveling the complex economic numbers and report on them on their website. With all the bad economic news that has been reported lately, they believe that bankruptcy filing will be in the future for many Americans over the next couple years. DFBA prides itself on providing the latest truthful information to its website visitors and clients. For many Americans, these hard-working average Joe's should be filing for bankruptcy to stop all the craziness but instead are allowed to borrow more money that allows them to kick the can down the road further. At some point in time this will all have to come to an end as the interest alone will eat these folks alive. DebtFreeBankruptcyAttorney.Com wants to reiterate for people not to watch what the stock market is doing to justify their spending or borrowing.
DebtFreeBankruptcyAttorney.Com is a California Limited Liability Company formed with the assistance of experienced attorneys, paralegals, and other legal professionals, all dedicated to the idea that the average person should be able to easily access a local bankruptcy attorney for a FREE Evaluation of their specific financial situation. If you need legal advice, then only a bankruptcy lawyer can help you. For assistance with your bankruptcy filing options, DebtFreeBankruptcyAttorney.Com is your answer. We are a Christian-based company with the highest standards of honesty and integrity.
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