👉Tsunami of Bankruptcies , Commercial Real Estates & Restaurant Closures , Massive Layoffs !!

👉Tsunami of Bankruptcies , Commercial Real Estates & Restaurant Closures , Massive Layoffs !!






The U.S. retail sales dropped 16.4% in April. The Retail Sales Crash By Most Ever In April, Cars & Clothing Clobbered. Small businesses are struggling and suffering. Housing and automotive sales are done, stick a fork in it. Hard to spend when you had 85% of your income destroyed. Thirty-six million Americans have applied for unemployment benefits since early March. The unemployment rate jumped to 15% this week, the highest since the Great Depression. The housing market, auto industry, bank service, and construction/infrastructure/building trades are all hurting. Millions of newly unemployed low-income workers used to be employed by the restaurant industry, but that industry has been absolutely decimated by this crisis. One-fourth of all U.S. restaurants will be closing down permanently. Restaurants are struggling to welcome back diners in the states that have reopened amid the coronavirus pandemic with data showing reservations, and walk-in customers are still down at least 82 percent. Experts predict that one in four restaurants will go out of business. The American courts are expecting the largest surge ever in corporate and individual bankruptcies due to the COVID-19 recession. Large public companies will likely survive, but small businesses and individuals may not fare as well. Now bankruptcy is a court proceeding in which a judge examines the assets and liabilities of a company or individual that can't pay their bills to determine whether those debts will be forgiven, restructured, or reduced. The process gives people and failing businesses an opportunity to start afresh. Although bankruptcy does remain on a credit report for seven to ten years, so it's going to affect your future ability to get credit. Still, it's supposed to be a safety net. So creditors don't continue garnishing debtors wages or filing lawsuits or liens against them. Historically courts see a rise in bankruptcy cases when there's rising unemployment as we're seeing now in the last six weeks. At least thirty million people in the country have filed for unemployment. So the courts are expecting bankruptcy cases to rise accordingly. And this is just the beginning as we haven't seen the worst of the the economic fallout from this virus yet. The U.S. economy will continue to be caught in this death spiral, and Fed Chair Jay Powell is warning that we could soon see a “wave of bankruptcies” from coast to coast. COVID-19 did finally burst the debt-fueled economic bubble that was keeping conditions relatively stable in the past few years. The commercial real estate is increasingly defaulting on payments because they are unable to collect rent from their tenants. Right now many of those tenants are not able to pay. We're seeing a quiet failure occurring here; restaurants that remain closed, office buildings with empty parking lots, and for a state that has a limited road system we're struggling after losing a vital in-state air carrier that delivered mail, groceries, and people to many of our remote communities. Some of the most common forms of bankruptcy are chapter 7 and chapter 11. Typically individuals and small businesses file under Chapter 7 of the US Bankruptcy Code while bigger public companies typically file under Chapter 11. now under Chapter 7, a company must stop all operations and go completely out of business while a court-appointed trustee liquidates all the company's assets to pay off debts. when this happens all employees lose their jobs. We'll likely see many chapter 7 bankruptcies from small local businesses, including restaurants, fitness studios, hair salons, and retailers. But bigger public companies that have a larger revenue potential than liquidation value will likely file under Chapter 11 of the US Bankruptcy Code. This allows the company to continue operating while debts and assets are restructured. So the company can eventually pay creditors back and hopefully, become profitable again. Now prior to the pandemic, many airlines, including Delta United and American, were able to get out of bankruptcy in under four years due to this type of filing. Now they're in hot water again. Shut down all small businesses and only support big companies like Mc Donald’s and Taco Bell. The president should lead to bankruptcy. He's the guy with the most experience we have in government in declaring bankruptcy. The restaurant business will die as long as social distancing mitigation and restrictions continue to be imposed on them. Long lines, limited seating at 25%, masks in your face, throwing away menus after use, higher prices for food, and a Covid19 fee to sustain these restrictions will result in loss of business and no customers. Going out to eat is supposed to be a pleasurable experience, not a restrictive, paranoia-inducing environment. This will go for all public venues -- theaters, retail stores, buildings. People who are not willing to take public risks should stay home and not go out. They can live off their government checks. As businesses reopen, many are requiring shoppers and employees to wear a face mask. Costco, for instance, will not allow shoppers into the store without wearing a face mask. Many employers require all employees to wear a face mask while at work. In some jurisdictions, all citizens must wear a face mask if they are outside of their own home. It's estimated that 42% of our medical services are in the process of closing; these are our specialty providers that doctors often refer patients to from our large hospitals. To me, we've just lost decades of medical service decentralization as only the large hospitals receiving Federal money during this pandemic are making ends meet. Yes, the lowest compensated hard-working people are suffering, and job prospects are not looking good for them, but the negative impact on our medical services industry and the highly educated and experienced entrepreneurs is also devastating and will impact health outcomes for many years to come. Our working class has been undermined and underpaid for the past three/four decades. Big corporate greed is devouring the workers, along with smaller businesses. The powerless people on the bottom of the food chain get hurt the most, but the fat cats with political influence are able to get the big bailouts. There is not a wealthy person on earth that will not feel the impact of that which is to come. The proud and arrogant will fall, and this my friend is inevitable. As sure as the sun rose this morning, grimace will be found upon the faces of those who make riches their trust. Boomers retiring and millennials going on food stamps. Everyone stays at home. This is great. Expect interest rates to increase dramatically across the US economy over the coming months as defaults rise on most classes of credit, and RISK is finally and at long last taken into account in establishing interest rates on all loans. America went bankrupt nine times; it is the country that went bankrupt the most. Especially MORALLY Bankrupt with our foreign policy and treatment of the environment. Politicians, drunk on power, though they were hitting a "pause" button. They were hitting the destruction button instead. There is no coming back for years. Guess who depends on sales for taxes? Massive layoffs to police, fire, and paramedics coming. So much for saving lives. The economy crashing was not organic; it was caused. Meaning we are under attack, and these businesses are not coming back. It’s sheer madness. The rules are written to accommodate the madness. A doomed strategy from any standpoint except for those that continue to extract profits to the bitter end without regard to society. The definition of “A Banker.” Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Global debt has hit 246 trillion, which is 320% of GDP. The global economy is rapidly falling apart. Hedge Funds and Derivatives have always been a scam, as is much of the stock market offerings. It is speculation offered on pure paper and not much more. The Big Boys will rock the market buy up cheap, and then all of a sudden, those stocks will be worth money again. If their gamble fails, then they will just come in and steal your land your gold and whatever else they can get their hands on. That is the way corruption has always operated, and only a strong ethical, moral compass used by the people has any chance of changing course. One can be reasonably sure that the pork barrel trillion dollars 'stimulus' packages will be nearly a monthly occurrence. If that spigot was abruptly shut off, one could be fairly certain that a crime pandemic will soon engulf the nation with mobs, looting, muggings, burglaries, and violence plaguing neighborhoods and communities throughout the land. Why does everyone need a bailout?! According to real capitalism, you rise and fall on your own merit. That means if you make a poor business decision, you eat it. Not everyone deserves to have a company. And if you keep propping up zombie businesses, you will continue to have a false market. The world is now in a twisted, backward, and upside-down state, where everything is founded on deceit, fraud, and corruption. This present Bizarro World will not be sustained, because the level of insanity required by everyone is too much for even our deranged leaders. Thus, the World System will soon suffer the complete unfolding of The Greatest Collapse in World History, which has already been initiated by the Novel Corona Virus Pandemic, when the criminal Banks Bust and when traitorous Governments Fall. So, the unlimited debt-based spending by the bankrupt, including the Federal Reserve and the Banks, must end with all corporations going out of business, leaving the World engulfed by extreme lawlessness when money and wealth mean nothing to hungry, thirsty, ailing and desperately unprepared peoples searching for safety and security for but just a single day. Thus, to endure, the wise will prepare at the very least thirty days of fresh food, good water, personal medicines, and emergency supplies for all in one's households to shelter in place within communities away from the Great Cities of Man. Where overwhelming floods of despairing hordes will come in demanding safety and security from an emergency communist-socialist planetary regime alone headed by a United Nations proclaimed "The President of the World" global dictator and world savior. The left vs. right paradigm is fake; it's a fraud. Let us fast forward to today. We're talking about mandated vaccines, ID2020, Fed Coin/Digital Wallet Pelosi introduced in the 1st bailout package. The subsidization of corporations which enterprises depend on the surveillance of citizens like Facebook. Trump is mentioning that the military will give vaccines. This imaginative left vs. right paradigm is most closely associated with the movie "Matrix," whereby a black pill pusher shows us the truth. If you learn anything from this developing catastrophe, know this. The Federal Reserve System and all of its adherents are the root CAUSE of your woe. When you're down and out, don't focus your anger on a political party or another such contrived foe. Seek the SOURCE... and then gravitate toward a movement that will KILL it. The virus is the Fed. And the problem is us because we allowed it. It’s well overdue that the people of this planet wake up and come to the realization that the whole world is a cesspool, corrupt to the core where every existing system is failing. We need to realize that MONEY and the greed and power it delivers is the root cause of this dystopia. If we don’t insist on the cancellation of the monetary system and demand a system that treats all as equal, we are doomed, and we will only have ourselves to blame. Moving to a new system is not good enough as it, too, will be corrupted by our so-called leaders. We need a complete system change. 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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.