Another sign our economy is STRONG!
01-11-2006, 03:20 PM
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Another sign our economy is STRONG!
"Significant increases in consumer bankruptcy filings occurred in every region, according to the data released Wednesday by Lundquist Consulting Inc., a financial research firm based in Burlingame, Calif. It tallied 2,043,535 new filings last year, up 31.6 percent from 1,552,967 in 2004 — meaning that one in every 53 households filed bankruptcy petitions, according to the company."
http://news.yahoo.com/s/ap/20060111/...ltBHNlYwM3MTY-
http://news.yahoo.com/s/ap/20060111/...ltBHNlYwM3MTY-
01-11-2006, 03:31 PM
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You made this thread to be funny, right? You realize that the increase is a result of people rushing file before changes in bankruptcy code, right? We'll only know for sure when we see 2006 results.
From the article, "The rush of indebted consumers to file bankruptcy before a tough new law took effect pushed personal filings for 2005 to their highest annual level on record — more than 2 million, according to new data."
In other words, this has absolutely nothing to do with the economy.
Thanks for playing!
From the article, "The rush of indebted consumers to file bankruptcy before a tough new law took effect pushed personal filings for 2005 to their highest annual level on record — more than 2 million, according to new data."
In other words, this has absolutely nothing to do with the economy.
Thanks for playing!
Originally Posted by psoper
"Significant increases in consumer bankruptcy filings occurred in every region, according to the data released Wednesday by Lundquist Consulting Inc., a financial research firm based in Burlingame, Calif. It tallied 2,043,535 new filings last year, up 31.6 percent from 1,552,967 in 2004 — meaning that one in every 53 households filed bankruptcy petitions, according to the company."
http://news.yahoo.com/s/ap/20060111/...ltBHNlYwM3MTY-
http://news.yahoo.com/s/ap/20060111/...ltBHNlYwM3MTY-
01-11-2006, 05:10 PM
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Originally Posted by HellaDumb
You made this thread to be funny, right? You realize that the increase is a result of people rushing file before changes in bankruptcy code, right?
01-11-2006, 05:29 PM
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As long as you aren't amongst the 2+ million households who filed, I guess it's really easy for you guys to blow it off.
Gotta love that compassionate conservatism
Gotta love that compassionate conservatism
01-11-2006, 06:25 PM
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^ Idiot yourself, I'm only pointing out that "Compassionate conservatism" is a total self- contradiction.
It seems that "conservatism" these days means "every man for himself and losers can just crawl off and die".
All of these people filing for banckrupcy obviously must just be lazy and/or incompetant, because good hard working americans all have great paying jobs, right?
It seems that "conservatism" these days means "every man for himself and losers can just crawl off and die".
All of these people filing for banckrupcy obviously must just be lazy and/or incompetant, because good hard working americans all have great paying jobs, right?
01-11-2006, 06:28 PM
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Originally Posted by psoper
It seems that "conservatism" these days means "every man for himself and losers can just crawl off and die".
01-11-2006, 06:33 PM
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50% of personal bankrupcies are due to overwhelming medical expenses.
http://content.healthaffairs.org/cgi...haff.w5.63/DC1
Universal health care anybody?
http://content.healthaffairs.org/cgi...haff.w5.63/DC1
Universal health care anybody?
01-11-2006, 06:38 PM
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Are you gonna pay for it?
How much would this cost me, not that it matters seeing that I'm self employed and just rolling in the dough.
Also, if the gov't, I mean my money, wasn't wasted on treating illgal's health problems, maybe there would be enough $$ for Soci...I mean, "Universal" medical insurance.
How much would this cost me, not that it matters seeing that I'm self employed and just rolling in the dough.
Also, if the gov't, I mean my money, wasn't wasted on treating illgal's health problems, maybe there would be enough $$ for Soci...I mean, "Universal" medical insurance.
Last edited by FW Motorsports; 01-11-2006 at 06:41 PM.
01-11-2006, 06:43 PM
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I don't know why bankruptcy is always considered to be a bad thing. Millions of people do it,, companies do it. It's a second chance. Rack up to much debt, can't afford to pay, it get virtually wiped clean. You lose you assets but not your scalp. It is a bummer to file but sometimes it is necessary. I would say that 50% due to meical expenses might be stretch. Medical expenses may have pushed it over the edge. Bad debt I.E. credit cards, high intrest loans, poor mangement of assets, certainly would be the cause.
01-11-2006, 06:46 PM
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Universal health care sounds like a great idea. Personally I hate the idea of being placed on a priority list. Imagine a health care system run much like the emergency room at any hospital. Gotta cough? have a seat...
01-12-2006, 03:51 AM
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Originally Posted by Paul@dbtuned
Are you gonna pay for it?
How much would this cost me, not that it matters seeing that I'm self employed and just rolling in the dough.
How much would this cost me, not that it matters seeing that I'm self employed and just rolling in the dough.
Kaiser Permanente estimates that it would cost 48billion to insure all those citizens who are currently without insurance (as opposed to 41billion annually to cover the expenses of the uninsured) Of couse the costs would go down as those who are presently uninsured were able to obtain preventative care, as opposed to the crisis style care they currently receive.
And yes...I'd be more than willing to pay my share of the cost in the form of tax increases, though I'm not rich.
01-12-2006, 06:05 AM
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Seriously, this was because of the change in code. Yes, the bankruptcy rate is extremely high which is VERY bad. However, you can't go off of numbers skewed extremely off of a change in code.
Article on it:
http://www.telegraph.co.uk/money/mai...ixcitytop.html
Don't get me wrong, I hate bush's (well, more the modern republican's) economic policy too. However this is not a indicator due to the change. Had these numbers jumped like they did, WITHOUT the change in code then that would say something.
Cheers
-Jeff
Article on it:
http://www.telegraph.co.uk/money/mai...ixcitytop.html
Don't get me wrong, I hate bush's (well, more the modern republican's) economic policy too. However this is not a indicator due to the change. Had these numbers jumped like they did, WITHOUT the change in code then that would say something.
Cheers
-Jeff
01-12-2006, 06:07 AM
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Originally Posted by ipozestu
Universal health care sounds like a great idea. Personally I hate the idea of being placed on a priority list. Imagine a health care system run much like the emergency room at any hospital. Gotta cough? have a seat...