Helping Homeowners In Michigan
Archive for October 2nd, 2009
ABI: Personal Bankruptcy Filings up 41 Percent Compared to Sept 2008
October 2nd, 2009 | 
Author: From the American Bankruptcy Institute: Consumer Bankruptcy Filings Surge Past One Million During First Nine Months of 2009
Consumer bankruptcies totaled 1,046,449 filings through the first nine months of 2009 (Jan. 1-Sept. 30), the first time since the 2005 bankruptcy overhaul that filings have surged past the 1 million mark during the first three calendar quarters of a year, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC). The filings for the first three-quarters of 2009 were the highest total since the 1,350,360 consumer filings through the first nine months of 2005.
“Bankruptcy filings continue to climb as consumers look to shelter themselves from the effects of rising unemployment rates and housing debt,” said ABI Executive Director Samuel J. Gerdano. “The consumer filing total through the first nine months is consistent with our expectation that consumer bankruptcies will top 1.4 million in 2009.”
The September 2009 consumer filing total reached 124,790, a 41 percent increase from the 88,663 consumer filings in September 2008.
Click on graph for larger image in new window.
This graph shows the non-business bankruptcy filings by quarter.
Note: Quarterly data from Administrative Office of the U.S. Courts, Q3 2009 based on monthly data from the American Bankruptcy Institute.
The quarterly rate is close to the levels prior to when the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect. There were over 2 million bankruptcies filed in Calendar 2005 ahead of the law change.
There have been 1.05 million personal bankruptcy filings through Sept 2009, and the American Bankruptcy Institute is predicting over 1.4 million new bankruptcies by year end – I’ll take the over!
Posted in 
Solar
Average Daily Solar Radiation
So… even in Fargo, North Dakota (lat. 46’52″N, no palm trees in sight) such a system would get on average 6-7 kWh of solar radiation per day, for every square meter of panel. Even with the least efficient panel available currently, at around 10% energy conversion, this means that for a mere 10 square meter system a home would generate ~6.5 kWh per day. And I should point out that panels are now being tested with conversion efficiencies upwards of 20%.
The rub? Price, as always. And that’s where your government feathers (see previous post) come in. How about this idea: we reduce defence spending by $30 billion/year and increase “black” fuel taxes by $30 billion/year and spend the $60 billion in installing state of the art solar panels in people’s homes FOR FREE through a lottery system. That should come to about 2 million installations every year. Not bad for such a small bunch of feathers, eh?
For your information, the federal government already spends $600 billion on defence every year. As for the other $30 billion, we could raise this entire sum by an extra 10 cents tax at the gas pump.
proudly supports:
Bill Still For President
for Congress
Michigan 11th District
By Bill Still
There is only one answer for the world economic situation; monetary reform.
1. No More National Debt
2. No More Fractional Lending
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