They’re wrong:
The AP gathered data from the nation’s 90 bankruptcy districts and found 1.43 million filings, an increase of 32 percent from 2008. There were 116,000 recorded bankruptcies in December, up 22 percent from the same month a year before.
…Arizona saw the fastest increase, a jump of 77 percent from the year before, followed by Wyoming (60 percent), Nevada (59 percent) and California (58 percent).
Note: MSM report edited to get rid of the “its really not so bad” BS designed to soften the blow of truth.
A few days ago, the Mrs went to the deli to get a bagel. A couple days after that, I went there. The place is closed. Ever more empty storefronts are visible here in Las Vegas. Population is declining. House prices continue to decline (a couple I know have tried to short sale their house for the past 8 months – it has sold, three times; but each time the deal falls through and the prices drops some more…and, people, when the real estate people say “x number of houses sold in Month Y”, they never count how many of them drop out…and so, the “improving” sales numbers include the neighbors house, three times…and how many others like it are there?). We all sit on the edge out here, making mental plans for what we’ll do when we’re laid off…
The smoke and mirrors recovery has a few more months left to go…but the reality of continued economic depression will go on for quite a while.
UPDATE: Home sales dropped 16% in November.
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