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 money printed out of thin air in the form of quantitative easing. Most Americans don’t understand what quantitative easing is, but in a nutshell it’s nothing more than making money that isn’t 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 of 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 overseas. That’s when the US economy became fueled by debt and nothing else. We are no longer manufacturers of anything, but only 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’s hard to believe that it’s only 6.7% at last check. You can’t pick up and read financial documents without learning that a major corporation has filed for bankruptcy or the announcement of layoffs or the closing of numerous corporate locations. At the peak of unemployment a few years ago, the employment-to-population ratio was 62% and that’s when unemployment topped 10%. Now at 6.7%, that ratio is now 56%. Again, checking my math, that ratio should increase as the evidence points to the number decreasing. Someone is obviously tampering with the books. The good news is that, for all those who are struggling to file for bankruptcy, it is still available. They just need to look for that ray of light in the cloud of bankruptcy and see the bright side.

Historically, when the topic of filing for bankruptcy comes up, all you really care about are the negatives. Rarely does anyone hear about the good things that filing bankruptcy has to offer. If anyone wants to hear good news on the subject, they should consult a bankruptcy attorney. A bankruptcy attorney will tell the person about the automatic stay and how powerful it is. The automatic stay is put in place at the time of bankruptcy filing and prevents creditors from collecting any debt. In fact, it is so powerful that it will stop all legal activity, including foreclosures, lawsuits, judgments, 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 about who is on the other end of the phone when it rings.

The second most positive benefit of filing for bankruptcy is discharge from bankruptcy. The bankruptcy discharge is the secret creditors don’t want the debtor to know. Creditors want people to believe that filing for bankruptcy will destroy their lives. This is why there is so much negative information online. Debt collectors will do anything to talk someone out of filing bankruptcy because they know that once the person files bankruptcy they will no longer be able to call the person and when the bankruptcy discharge comes they will receive nothing. By filing for Chapter 7 bankruptcy, all unsecured debts are completely eliminated without any refund. When it comes to Chapter 13, the debtor and their bankruptcy attorney must present a workable payment plan to the bankruptcy court. In Chapter 13 bankruptcy, debts are paid in priority and the insured gets the first shot at cash. Usually 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 beginning to realize the truth, as it is becoming quite difficult to hide the non-existent recovery when more than 50 million people receive food stamps and many are moving home with their elderly parents because they cannot support a roof over their heads. their heads.