June saw a historic surge in US corporate bankruptcy filings. It was the highest number recorded in a single month since at least the start of 2020 surpassed half-year figures seen in over a decade.
High interest rates, supply chain issues, and slowing consumer spending continue to weigh on struggling companies.
The high interest rates are due to the Feds trying to get inflation down. Slowed consumer spending has a lot to do with layoffs and inflation.
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One notable bankruptcy is EV maker Fisker.
Electric vehicle maker Fisker Group Inc. entered bankruptcy proceedings on June 17. The company announced a pause in production of its flagship Ocean SUV in March. They did it as they sought funding and a potential transaction with a larger automaker.
Biden-Kamalanomics is an all-around failure.
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