Paranoid Bull

More unsurprising but worsening data Bankruptcy Filings Surge Among US Consumers American consumers’ bankruptcy filings jumped 15 percent in February from the previous month and a steeper rise is looming because of the subprime mortgage crisis, the American Bankruptcy Institute said. Consumer bankruptcy filings in February totaled 76,120, up from 66,050 recorded in January, the [...]

This is unsurprising for those of us paying attention, although it is troubling nonetheless. Via NYTimes: In Parts of U.S., Foreclosures Top Sales During January, it was reported this week by RealtyTrac, there were 153,745 initial foreclosure notices sent out in the United States. That dwarfed the 43,000 total sales of newly built single-family homes [...]