I’m always on the lookout for headlines like these demonstrating the extreme ridiculousness necessary to indicate cyclical tops and bottoms of a given theme in the markets or the economy.
From CNNMoney via Yahoo Finance:
This year, hundreds of thousands of Americans are expected to be too broke to file for bankruptcy.
The average cost to file for Chapter 7 bankruptcy protection, the most common form of consumer bankruptcy, is more than $1,500, according to recent research submitted to the National Bureau of Economic Research.
As a result, anywhere between 200,000 and one million consumers are estimated to be unable to afford that steep cost this year.
So there you have it – if we’re not at a bottom for US insolvency and hopelessness, we’re certainly getting close.
hat tip Eddy