Potential Market Downturn? U.S. Bankruptcy Filings Skyrocket to Alarmingly High Rates

As concerns over the U.S. economy’s health mount, recent data points to a surge in bankruptcy filings, reaching levels that have historically preceded economic downturns.

Bankruptcy protection filings in the U.S. have surged to rates mirroring those seen during the 2008 Great Recession and the early stages of the COVID-19 pandemic in 2020. This data was highlighted in a post by user WhaleWire on X on September 24.

As concerns over the U.S. economy’s health mount, recent data points to a surge in bankruptcy filings, reaching levels that have historically preceded economic downturns.

Bankruptcy protection filings in the U.S. have surged to rates mirroring those seen during the 2008 Great Recession and the early stages of the COVID-19 pandemic in 2020. This data was highlighted in a post by user WhaleWire on X on September 24.

Experts believe that such a surge could be a precursor to severe economic challenges, potentially including a stock market crash. Similar patterns were observed leading up to the economic crises in 2008 and 2020. Specifically, the expert noted:

“This indicator often suggests that the economy isn’t performing well, and has historically always been followed by massive stock market crashes.”

A Waning American Economic Dominance?

Prominent investor Robert Kiyosaki has been vocal about his concerns regarding the U.S. economy. He foresees a decline in the dominance of the U.S. dollar, believing it may soon lose its status as the world’s primary reserve currency.

Kiyosaki, author of the popular financial guide ‘Rich Dad Poor Dad,’ has long advocated for diversifying investments into alternative assets like cryptocurrencies. He emphasizes Bitcoin (BTC) in particular, stating that “cryptocurrencies represent the future” in an era where traditional fiat currencies are losing their value.

Recently, Kiyosaki urged his audience to consider investing in Bitcoin sooner rather than later. He believes assets like Bitcoin, gold, and silver offer good value at current prices. At the time of the report, Bitcoin’s price stood at $26,109, reflecting a drop of 1.82% for the day and a decline of 2.24% over the week.