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While not yet a certainly the prospects for a global credit crunch from the wreckage of two Bear Stearns hedge funds and the rising sea of loans gone bad in the sub prime housing leading market makes the possibility all too real.

Under Allan Greenspan interest rates were set at artificially low rates for a long period of time. The widespread availability of easy credit at low rates caused lenders to lend money to millions of folks who are not having difficulties in paying it back.

As anyone in the United States well knows who eats or drives an automobile prices have began to advance at a rapid rate. Grocery prices especially are beginning to hurt the consumer as the prices for milk, meats, and vegetables reach record highs.

While the government still tells us that inflation is under control they conveniently leave the costs of energy and food out of the CPI index. Clearly your government considers all American consumers as idiots when they expect you to believe the official CPI numbers.