The Recovery Farce: Why Now is the Time to File for Bankruptcy

A recent poll by CBS News found that nearly 60% of Americans do not believe that the economy is getting better.

2011-03-31

March 31, 2011 (Press-News.org) A recent poll by CBS News found that nearly 60% of Americans do not believe that the economy is getting better, regardless of what official White House statements profess.

With gas prices rising, unemployment stagnant at 9% and the highest national debt in US history, it's no wonder that Americans are skeptical of the White House's claims. Many economists agree with the majority of Americans -- the recession is not getting better, and we may be headed toward a situation similar to the fiscal crisis of the late 1970s.

Forbes analyst Charles Kadlec recently wrote a column comparing the current economic conditions to those of the late 1970s. In the early '70s, the price of gold tripled, mirroring the rising cost of oil during that time. This means that the dollar steadily lost value against gold and oil, as the prices of those commodities increased. The devaluation of the dollar led to high inflation in the late 1970s.

Kadlec draws a parallel between the economic events of the 1970s and the economic events of today. Since 2009, the price of gold has increased 75% -- indicating that the value of the dollar against gold has decreased -- which Kadlec predicts will lead to a rise in consumer prices in the coming months. This rise will be similar to the increase that occurred after the rise of gold and oil prices in the 1970s.

One may ask what this means for the American consumer today. The rise in the cost of consumer goods and other necessities will negatively impact the wallets of all Americans, but especially the 9% of the population that is out of work. The increase in the cost of goods will make it even harder for the unemployed to make ends meet. This is why, if an individual is in danger of being consumed by debt now, it is wise to file for bankruptcy sooner rather than later.

There are two main types of individual bankruptcy, Chapter 7 (liquidation) and Chapter 13 (repayment plan) bankruptcy. Each has its pros and cons and requirements, it is important to learn which is right for your situation.

Since the economy is stuck in a recessional rut, and prices on goods may very well increase over the next several months, if you or a loved one is struggling to make ends meet and feel overwhelmed by debt, filing for bankruptcy may be a wise next step. Speak with an experienced attorney to discuss your situation.

Article provided by Chang & Diamond, APC
Visit us at www.thebklawyers.com

ELSE PRESS RELEASES FROM THIS DATE:

Genes relate to level of alcohol consumption among Asians

2011-03-31

In a study of 1,721 Korean male drinkers aged 40󈞱 y in an urban population–based cohort, and another sample of 1,113 male drinkers from an independent rural cohort, information on average daily alcohol consumption was collected and DNA samples were collected for genotyping. In a genome-wide association (GWA) study, 12 single-nucleotide polymorphisms (SNPs) on chromosome 12q24 had genome-wide significant associations with alcohol consumption. These polymorphisms were closely related to genes that determine levels of ALDH, low levels of which relate to flushing ...

New study shows you can have your candy and eat it too -- without adverse health effects

2011-03-31

WASHINGTON, DC, March 30, 2011 -- Good news for candy and chocolate lovers: they tend to weigh less, have lower body mass indices (BMI) and waist circumferences, and have decreased levels of risk factors for cardiovascular disease (CVD) and metabolic syndrome, according to a new study(1) published in Nutrition Research. The findings are positive, but lead researcher Carol O'Neil, PhD, MPH, LDN, RD, Louisiana State University Agricultural Center, cautions it is all things in moderation. "We certainly don't want these results positioned as eating candy helps you to lose ...

Could HIV-infected organs save lives?

2011-03-31

If Congress reversed its ban on allowing people with HIV to be organ donors after their death, roughly 500 HIV-positive patients with kidney or liver failure each year could get transplants within months, rather than the years they currently wait on the list, new Johns Hopkins research suggests. "If this legal ban were lifted, we could potentially provide organ transplants to every single HIV-infected transplant candidate on the waiting list," says Dorry L. Segev, M.D., Ph.D., an associate professor of surgery at the Johns Hopkins University School of Medicine and the ...

Neglected Colorectal Screenings Cost Thousands of Lives

2011-03-31

Colorectal cancers (those affecting the large intestine) are becoming more common. Colorectal cancers (those affecting the large intestine) are becoming more common. In fact, colorectal cancer kills around 57,000 elderly people annually -- far more than prostate, kidney, breast, bladder or pancreatic cancer -- leaving it second only to lung cancer in annual fatalities. One positive thing about colorectal cancer is that if it is detected early enough it is generally treatable. Unfortunately, though, screening procedures are often neglected even though they are part of ...

Scientists reach beyond the clouds with mobile phone app to explore the outer atmosphere

2011-03-31

Engineering scientists at the University of Southampton have reached above the clouds in a first-of-its-kind experiment to develop new technologies that probe the stratosphere using an unmanned vehicle. The test flight was part of the ASTRA (Atmospheric Science Through Robotic Aircraft) project, and it demonstrated how a low-cost high altitude platform could be used to send a payload with atmospheric monitoring equipment into the upper atmosphere. The balloon-borne aircraft harnessed the power of 'cloud computing' using an on-demand computing and storage resource, via ...

Making Vital Choices: Understanding Powers of Attorney Under Florida Law

2011-03-31

Perhaps the foremost lesson that a Florida estate planning lawyer can impart to a client is the importance of designating trustworthy and dependable individuals to carry out one's wishes. This is just as true for the personal representative (executor) of a will or trustee for a trust as it is for the "attorney-in-fact" who is granted a power of attorney to handle certain decisions in the event of the incapacity or a planned absence of the principal (the person who grants the power). Powers of attorney provide temporary or permanent authority to a person to act on another's ...

FDA Shuts Down Deltex Pharmaceuticals

2011-03-31

The Food and Drug Administration (FDA) entered a consent decree of permanent injunction against Deltex Pharmaceuticals Inc. a Fort Bend County drug maker, based on "a history of significant violations," including manufacturing and distributing unapproved, adulterated and misbranded drugs. The FDA originally requested a permanent injunction against Deltex and its president, Kabir Ahmed, and vice president, Mohidur R. Khan, because the company allegedly failed to obtain approval for its prescription drugs, failed to comply with federal regulations governing over-the-counter ...

West Runton Elephant helps unlock the past

2011-03-31

Researchers from the University of York and Manchester have successfully extracted protein from the bones of a 600,000 year old mammoth, paving the way for the identification of ancient fossils. Using an ultra-high resolution mass spectrometer, bio-archaeologists were able to produce a near complete collagen sequence for the West Runton Elephant, a Steppe Mammoth skeleton which was discovered in cliffs in Norfolk in 1990. The remarkable 85 per cent complete skeleton – the most complete example of its species ever found in the world - is preserved by Norfolk Museums and ...

Educational development stunted by teenage fatherhood

2011-03-31

New Haven, CT—March 30, 2011— Public interest in the issue of teenage childbearing has recently increased, largely due to increases in both the teen pregnancy rate and the teen birth rate. A new study from Economic Inquiry examines the negative educational and economic outcomes of teenage fatherhood, a topic far less researched than teenage motherhood. In their study the authors utilized the National Longitudinal Study of Adolescent Health, a school-based, nationally representative longitudinal study of 7th to 12th graders in the United States beginning in 1994-1995. ...

Proposed PA Juvenile Justice Changes in Wake of "Kids-for-Cash" Scandal

2011-03-31

The Pennsylvania Supreme Court has provided updates about proposed changes to the state juvenile justice process in response to the 2009 scandal involving two Luzerne County judges. Former judges Mark A. Ciavarella Jr. and Michael T. Conahan were charged with racketeering after taking nearly $3 million from the owner of two private detention facilities in exchange for juvenile commitments. Conahan pleaded guilty in 2009 and Ciavarella was recently found guilty by a Scranton jury. Since this shocking news came to light, Pennsylvania authorities have granted thousands ...

Ergonomic insect headgear and abdominal buckle with surface stimulators manufactured via multimaterial 3D printing snap-and-secure installation of noninvasive sensory stimulators for cyborg insects

The Recovery Farce: Why Now is the Time to File for Bankruptcy

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: