U.S. Bankruptcies Surge, Now May Be in the Deepest Stage of Recession The U.S. may be in the depths of a recession right now, with the recent surge in U.S. bankruptcies similar to what happened during the global financial crisis. We have seen 19 companies with debts over $50 million go bankrupt, with the post-pandemic high of 23. Current interest rates take us right back to the days of the financial crisis. We're also seeing small bankruptcies, which are filtering into personal bankruptcies because American households have so many credit cards, car and personal loans, not to mention mortgages. The United States is in the midst of a "recession" that may begin in April 2024. She pointed to negative revisions to private employment data as a key indicator. She added that "the private sector actually lost 28,000 jobs" in October. These downward revisions have become "systemic" and have been ongoing since January 2022. The Federal Reserve will continue to cut interest rates in response to the economic recession, after cutting interest rates by 75 basis points since September. She added that "statisticians at the Fed are losing their minds" due to recent data revisions, which require them to recalculate their models and could push them to cut rates further. During the Trump administration, more "negative data" will be released, further revealing the extent of the recession. We know that most government statisticians are very left-leaning in nature, which is probably one of the reasons why we don't see bad data coming out. But going forward, they will be more willing to let negative data taint the Trump administration. We will realize that we are in a recession. This leads to the next question, which is when will we be out of this mess. " It is recommended to adopt a defensive posture in the current economic environment. It recommends investing in "companies that will continue to pay dividends no matter what happens in the rest of the world.