Meanwhile, elsewhere in America, March Foreclosures Surge To Absolute Record, At 369,491, 19% Jump from February, an increase of nearly 8 percent from March 2009 and the highest monthly total since RealtyTrac began issuing its report in January 2005. California alone accounted for 23 percent of the nation’s total foreclosure activity.
While the stock market cheers on the fantastic job “growth” of March 2010, the more astute of us are concerned with a growing tide of personal bankruptcies. March 2010 saw 158,000 bankruptcy filings. David Rosenberg of Gluskin-Sheff notes that this is an astounding 6,900 filings per day.
This latest filing is up 19% from March 2009’s number which occurred at the absolute nadir of the economic decline, when everyone thought the world was ending. It’s also up 35% from last month’s (February 2010) number. Why it’s impossible to get by in the United States.
Zero Hedge have picked up on this story now too: US Military Warns Of Oil Shortages By 2015 With Significant Economic And Political Impact.