Credit is available to the creditworthy, as Joe Salerno points out, it’s just more expensive, as it should be. After years of loose credit, lenders have to slow down and make sure borrowers can and will pay back the loans (amazing idea). Meanwhile, the criminal gang known as the California state government is moaning and wailing over the idea it might have to cut its standard of living, thanks to more expensive credit and poorer taxpayers. Tough, Arnold. Here is the moderate Rockwell Plan: instead of seeking to further loot the taxpayers with more debt, terminate half the programs and … Continue reading Credit Crunch: a Market Response to Fed Excess