As I was watching the news (CBS I believe) while getting ready for work this morning they did a story on the US economy. The housing crisis, fears of inflation and the credit crunch were all mentioned. One of the comments about the credit crunch just floored me. They were saying that banks have tightened up their lending practices which makes it more difficult for poeple to get loans. Then they said that "if people can't borrow, they can't spend."