credit crunch
CNN - House Call - Credit Crisis
For every Cramer, there is a Peter Schiff. Thanks for the bottom line, not the party line, Peter.
The announcer tries as usual to cut him off and candy coat the situation by saying the millions will lose their homes - umm, Wall St only cares about hedge funds losing big on non-performing mortgages. Will house prices collapse the way Schiff predicts?
I hope so.
"Our economy has been based on excessive consumer spending."
"We need to let the free market work it out - the government can't fix this credit crunch."
Oh, but they can try....
- From CNN 09/01/2007
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