Pain Train And Credit Crunch

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Morgan Stanley: Thousands of people with credit lines won’t be able to borrow based on their home equity. Now, MS is doing a good thing because this prevents the chasing of good money after bad; the credit crunch is arriving. Nonetheless, this will be be blamed on those evil speculators and entrepreneurs. It could never be related to the monopolistic federal reserve and the quasi-socialist banking cartel. As expected, you will be told that the state is there to prevent (or deny the existence of) a panic, a depression, a recession, a dip, a slowdown, or a hiccup in the economy.

8:20 am on August 6, 2008