No Economic Recovery in Site
Utah Bankruptcy Rates Forecasted to Increase
Three weeks ago when the Federal Reserve met more than half of their policymakers agreed that the United States economy is unlikely to recover any time soon. Instead, the Fed forecasts that the economy will likely not recover for five to six years. Translated into reality this means that recover is unlikely to occur for probably twice that.
Repeating the Fallacious Policies of the Great Depression
Why is recovery taking so long? The simple answer is that we live in a managed economy without free market enterprise. The Federal Reserve’s loose monetary policy and Congress’ outrageous spending habits guaranteed the boom and bust of the late 2000s.
The problem is that the Fed and Congress continue to do exactly what caused the problem in the first place: excessive spending, increasing debt, and devaluing the dollar with quantitative easing. How is more debt and more spending going to fix the problems associated with excessive debt and spending. Our politicians and the sages at the Fed really need to reassess their proposals.
Bad News for Utahns
The economy continues to decline and bankruptcies continue to go up. Given the Fed’s news today that is unlikely to change for years. What that means is that more people are going to need to take advantage of bankruptcy laws to help them deal with the debt they have had to accumulate out of necessity or out of imprudent spending.
Salcido Law Firm Will Be Here to Help You
At the law firm of Salcido Law Firm our bankruptcy lawyers will be able to help you start fresh by liquidating your debt through a Chapter 7 bankruptcy or by helping you lower your debt payments through a Chapter 13 repayment plan.
You can contact our debt relief attorneys anytime by calling 801.413.1753 or by sending us an email. The sooner you call the sooner we will be able to help you rid yourself of the heavy debt load you are carrying.