Apparel Firm Founded In South Carolina Files For Bankruptcy

The signs have been coming for about 9 months…trickling in….the average person is closing their wallet to non-essentials like extra impulse-buy clothing, restaurant meals, movies, ticketed entertainment events….because since 2021, month after month, they have been paying on average about 750-900 bucks per month more for the exact same basket of goods and services needed to run their households. And earnings and wages have not kept pace. So they draw on their savings and use their credit cards, but only a few actually making cutbacks in their budget, Then people hit the wall…the credit card is maxxed out and all their savings depleted. The hard cuts in spending become essentially involuntary. The only thing that might take the sting out of it is Fed rate cuts, which will only help those who have decent equity in their homes to draw upon to refinance those credit cards. But there is probably alot worse to come, given our nation’s crazy Debt to GDP ratio of over 125% and the BRICKS and OPEC nations ditching the petro dollar.