Great Debt Unwind: Consumer Bankruptcies Jump, First since 2010; Commercial Bankruptcies Spike

``Total US bankruptcy filings by consumers and businesses in March spiked 40% from February and rose 4% year-over-year to 81,590, the highest since March 2015... The Fed's monetary policies have purposefully encouraged businesses and consumers to borrow. But debt doesn't just go away. It accumulates. By now, an increasing number of businesses and consumers are suffocating under this debt overhang in an economy that never developed the "escape velocity" needed -- and hyped by Wall Street for years -- to outgrow this debt. Rising bankruptcies are a turning point in the "credit cycle." They're not exactly a positive mile-marker for the economy.''