Stop Going to School and Lower Your Chance for Bankruptcy

The title is somewhat tongue in cheek but not inconsistent with the chart below.

The chart was originally published at FancyStats and then republished at InfectiousGreed. The chart analyzed bankruptcy filers in several different ways.  I could find no information regarding the underlying database so cannot comment much on the findings. Some tentative guesses, just accepting the data as is, are the following: 1. More education seems to increase your chances of filing for bankruptcy. 2. College exposure seems to really enhance these probabilities. Those exposed to some college represent 55% of the failures.  We know how bad the schools have gotten, but did anyone suspect that education could be dangerous to your wealth?

Lower income groups are more affected than upper. These data represent last year. I suspect the real crunch for upper income earners will come this and next year as more upper-end homes are foreclosed upon and BMW leases cannot be met, etc.

Related posts:

1. SCHOOL – 1957 vs 2009
2. Stansberry: Bankruptcy of the US is Now Certain
3. Spiraling to Bankruptcy
4. State University vs. Private University
5. Bailout Fiasco – The US Sinks Into Bankruptcy