BREAKING: US bankruptcies in 2024 have officially surpassed 2020 pandemic levels.
570 large US companies have declared bankruptcy year-to-date, the most in 14 years.
Over the last 3 months alone, a whopping 182 corporate bankruptcies have been filed.
The consumer discretionary sector has been hit the hardest, experiencing 90 large bankruptcies year-to-date.
This is followed by 68 filings in industrials and 59 in healthcare.
Bankruptcies are surging as if we are in a crisis.
⚠️US ECONOMY HAS:
1) 1.2 MILLION full-time jobs lost in a year
2) CORE CPI INFLATION ABOVE 3% FOR 42 MONTHS
3) JOBS REVISED DOWN BY 818K for 12 months through March 2024
4) 570 BIG bankruptcies in 2024, the most in 14 YEARS
5) $36tn DEBT – record👇https://t.co/DkumiiGhLL
— Global Markets Investor (@GlobalMktObserv) November 21, 2024