In Only 4 Months in 2023, There Have Been 70 Major Bankruptcies

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May 2, 2023

According to Mike Shedlock of Mish Talk, there have been 70 bankruptcies through April of 2023.

For perspective, in 2009,  118 bankruptcies took place through April. During the height of the Wuhan virus in 2020, there were 71 bankruptcies through April.

Shedlock listed off some of the most prominent companies to file for bankruptcy in the fourth month span in 2023: 

Bed Bath & Beyond: April 2023: Home goods, baby goods

David’s Bridal: Date: April 2023: Bridal apparel

Boxed: April 2023: An e-commerce platform selling wholesale consumer goods

Independent Pet Partners: February 2023: Pet supplies

Tuesday Morning: February 2023: Discount home goods

Serta Simmons Bedding: January 2023: Bedding and accessories

Party City: January 2023: Party supplies

Forma Brands: January 2023: Beauty products

More bankruptcies will likely ensue due to the underlying instability of the American economy.  The American economy is by no means normal given the interventionist policies that undergird it. While it has improved since the initial stages of the Wuhan virus pandemic, economic conditions are still rather volatile. The combination of easy money and a large regulatory state has made it difficult for many businesses to stay afloat. Plus, such measures function as barriers of entry that prevent 

Ultimately, reforms that limit the influence of central banking and scale back the regulatory state are needed to create a more sustainable economic environment. Should the present economic system continue to be put in place, the US will likely transform into a Banana Republic-style economy marked by widening inequality and perpetual instability. 

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