Interesting commentary on "All Things Considered" driving home from work today. As usual, I have no clue who I was listening to, but his observation was to the effect that if a credit crunch occurs and continues, and borrowing and lending practices in the USA become more responsible, overseas economies will suffer the brunt, and we in the USA who are largely responsible for the problem because of unsound practices, will actually fare ok. Why? Credit will still be available, but only to 'good risks.' 'Subprime' countries like Turkey and South Africa will not be able to borrow, but the USA will still be considered a good credit risk. The guy said it was US domestic lending practices (not just in the mortgage market, but to businesses and from Bank to Bank that is primarily responsible for the current scare, but we will not pay most of the price. Farmers in Turkey will pay the price.