Official 3rd quarter bankruptcy figures

[Safiel]

Year Chapter
7 11 12 13
2023 248,680 6,473 142 178,214
2022 229,703 4,762 182 149,077
2021 310,597 5,622 344 117,784
2020 409,164 8,188 581 194,384
2019 478,838 7,320 583 289,802

Bankruptcies are up 13% in total in the last year as compared to the previous year.

Pretty much up across the board except for the very rare Chapter 12 (family farmer, family fisherman).

[Gaius]

Yeah i’s getting a lot of that in my Twitterfeed

EX1

EX2

EX3

[Safiel]

Even though we may not be in a recession.

There are still a lot of weak actors left to be culled.

[Gaius]

@Safiel

Even though we may not be in a recession.

There are still a lot of weak actors left to be culled.

The is still a ton of helicopter money sloshing around from the COVID days.

As long as some of it keeps sloshing into “things that count” instead of “things that don’t count,” we say “there is no recession.”
It’s is a pretty crazy way of declaring recessions but it allows for an apples-to-apples comparison so we have never replaced it.