Whither social democracy for America?

In his latest, Mike Whitney warns that the Bush regime's crisis management efforts will fail because, well, debt-driven, speculation-addled economies cannot last forever. The American version will not prove to be an exception to the principle. Indeed, the morning's newspapers relentlessly reaffirm the point each day. Americans in general will regain the capacity to spend to consume from their earnings or the system will flounder under the weight of the debt it generates.

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