Ah, bankruptcy! A topic as delightful as a rainy day in the countryside. A market analyst, ever so keen, is raising a delicate eyebrow 🤨 at the increasing number of large US companies gracefully collapsing this year. One might say they’re staging a rather dramatic exit from the economic stage.
Adam Kobeissi, the founder and editor-in-chief of The Kobeissi Letter (a title as verbose as a Wagner opera), informs his devoted followers on X – a platform where brevity goes to die – that a staggering 246 large US firms have declared themselves financially unwell. This, dear readers, is the highest number in a scandalous 15 years! 😮
According to Kobeissi, a veritable deluge of these grand establishments filed for bankruptcy just last month, conveniently coinciding with the peak of President Trump’s trade war. One wonders if tariffs are the new black? 🤔
“[246] is up from 206 recorded last year and more than DOUBLE during the same period in 2022.
In April alone, the US saw 59 bankruptcy filings as tariffs ramped up.
So far this year, the industrials sector has seen 41 bankruptcies, followed by 31 in consumer discretionary, and 17 in healthcare.
According to S&P Global, consumer discretionary companies have been hit the hardest due to market volatility, tariffs, and inflation uncertainty.
We expect a surge in bankruptcies in 2025.”
This grand procession of bankruptcies appears to be dancing in step with a rather unseemly decline in consumer sentiment. One might even suggest the consumers are losing their taste for the finer things in life, like, say, solvency. 💅
Kobeissi, ever the insightful observer, suggests that the data indicates American consumers are developing a rather unhealthy obsession with worrying about the economy. How dreadfully plebian! 😟
“US consumer sentiment is getting even worse:
The Consumer Sentiment index declined 1.4 points, to 52.2, the second-lowest reading in the history of the survey.
This is even lower than 2008 and the 1980s recession.
Current conditions fell 2.2 points, to 57.6, the second-weakest level on record.
Concerningly, consumer expectations decreased 0.8 points, to 46.5, the lowest in 45 years.
This survey took place between April 22 and May 13, concluding 2 days after the US-China trade deal.
Americans have rarely been this pessimistic about the economy.”
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2025-05-19 20:04