- The bankruptcy crisis we've warned you about isn't isolated
to only U.S. companies. Though Enron, WorldCom, Global Crossing, Kmart,
and others immediately come to mind, corporations across the globe have
struggled to remain afloat this year.
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- In just the second quarter of 2002, according to Standard
& Poor's, 56 companies worldwide defaulted on $52.1 BILLION in debt.
That's the most money ever defaulted on in a single quarter!
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- Companies have been piling on the debt for years now.
During the bull market, they were able to keep borrowing -- some even borrowed
just to pay off what they had borrowed previously -- digging themselves
deeper and deeper into debt! Now, the gravy train has ended. And many companies
are ending up on the bread line.
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- With major companies on the brink of failure, we expect
the size of defaults to grow even larger in coming quarters. And that won't
be good news for the global economy -- or the world markets.
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- http://www.safemoneyreport.com/home/daily.asp
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