Martin Weiss: Credit Crunch Could Get Far Worse
Wednesday, Dec. 12, 2007 1:02 p.m. EST

Years of American profligacy – spending and borrowing in historic amounts – has caught up with the U.S. economy, according a new report.
The result has been tightening credit for both subprime and for normal mortgage loans, a phenomenon which is quickly spreading to other forms of consumer credit, like auto loans, writes Martin Weiss, chairman of The Weiss Group, which also publishes the Safe Money Report.

Auto loan delinquencies have surged, Weiss notes, and even "goodâ€