Since around 2010, the government has added trillions of dollars to add liquidity to the markets in the hope of some form of economic recovery. The scary thing is that this money was not real money that they had in their coffers, but rather money printed out of thin air in the form of quantitative easing. Most Americans do not understand what quantitative easing is, but in a nutshell it is nothing more than making money that is not backed by anything. In essence, it devalues ​​every dollar we earn. The Federal Reserve admits to increasing the money supply by 20 times, so if I get the math right, every dollar in my pocket is now only worth five cents. The media has been beating the drum for a full recovery when in reality jobs are leaving by the millions. In fact, this started in the year 2000 when US corporations began moving all of their manufacturing offshore. That’s when the US economy became debt driven and nothing else. We are no longer manufacturers of anything, just consumers, and that will only work as long as they continue to print money to give to banks to lend to consumers.

Looking at the unemployment figures, it is hard to believe that it is only 6.7% at last check. You can’t pick up and read financial documents without learning that a major corporation filed for bankruptcy or the announcement of layoffs or the closure of numerous corporate locations. At the peak of unemployment a few years ago, the employment-to-population ratio was 62% and that is when unemployment exceeded 10%. Now at 6.7%, that proportion is now 56%. Again, going through my math, that ratio should go up as the evidence points to the number going down. It is obvious that someone is tampering with the books. The good news is, for all those who are struggling to file bankruptcy, it is still available. They just need to look for that silver lining in the bankruptcy cloud and look on the bright side.

Historically, when the subject of filing for bankruptcy comes up, all you really care about are the negatives. Rarely does anyone hear about the good things that filing for bankruptcy has to offer. If anyone wants to hear good news on the subject, they should consult a bankruptcy attorney. A bankruptcy attorney will inform the person about the automatic stay and how powerful it is. The automatic stay is put in place at the time you file bankruptcy and prevents creditors from collecting any debts. In fact, it is so powerful that it will stop all legal activity, including foreclosures, lawsuits, lawsuits, and wage garnishments. Creditors will no longer be able to even contact the debtor, as a result, debtors will enjoy the peace of mind of not worrying who is on the other end of the phone when it rings.

The second most positive benefit of filing bankruptcy is the discharge of bankruptcy. The bankruptcy discharge is the secret that creditors do not want the debtor to know. Creditors want people to believe that filing for bankruptcy will destroy their lives. That is why there is so much negative information online. Debt collectors will do anything to talk someone out of filing for bankruptcy because they know that once the person files for bankruptcy they will no longer be able to call the person and when the bankruptcy discharge comes they will receive nothing. Upon filing for Chapter 7 bankruptcy, all unsecured debts are discharged in full without any refund. When it comes to Chapter 13, the debtor and their bankruptcy attorney must submit a workable payment plan to the bankruptcy court. In Chapter 13 bankruptcy, debts are paid on priority basis and the insured gets first shot at cash. Typically, very little will be paid on the unsecured debt and any remaining amount will be included in the bankruptcy discharge at the end of the payment plan.

The truth is that there is no economic recovery that the media is talking about and people need to be proactive in seeking the truth. When things don’t add up, take talking heads at face value and understand who they work for. Many Americans are starting to realize the truth, as it’s getting pretty hard to hide the non-existent recovery as more than 50 million people receive food stamps and many move back home with elderly parents because they can’t keep a roof over their heads. their heads.