Amid Trump‘s constant bragging about the wonderful state of the economy, and how America is the “hottest“ place on the Earth, and how prosperity is coming for all, in the real world bankruptcies are at the highest level since 2020 as consumers get crushed under a burden of household debt that they can no longer carry.
Here are the top 10 states where bankruptcies have increased dramatically this year:
1 Rhode Island tops the list, with bankruptcy filings up 27.6 percent in the 12 months ending June 30.
2 & 3 Florida and Minnesota— filings increased 23.5 and 21 percent.
4. Vermont: 20.3 percent
5. Texas: 19.4 percent
6. Idaho: 19.1 percent
7. Maine: 17.9 percent
8. Colorado: 17.6 percent
9. Iowa: 17.0 percent
10. California: 16.6 percent
From Newsweek:
Matt Layton, LegalShield senior vice president of consumer analytics, wrote in April: “Bankruptcy inquiries hit the highest we’ve seen since early 2020, just before Americans’ checkbooks were boosted by COVID checks from the government. When you combine record debt, rising delinquencies, and prolonged financial stress, topped by price pressures driven by tariff uncertainty, the risk of a summer surge in bankruptcy filings becomes very real.”
“Debt is the common thread behind rising consumer stress,” he said in July. “Whether it’s missed mortgage payments, maxed-out credit cards, or mounting buy-now-pay-later balances, debt-fueled household spending is forcing people to ask a lawyer for help.”
And don’t forget Trump‘s tariffs. They are wreaking havoc across the entire economic spectrum, regardless of their absence in the headlines.
So much for the “golden age.“ This is no golden age. Every day this is looking more and more like the dark ages. And don’t talk to me about the stock market. The stock market is being propped up by energy investments, AI technology, investments, and biotechnology investments, all of which will not be creating any jobs or improving our quality of life. 
