Does the Financial Crisis Mean the End of the American Dream?

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Ben Cohen
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By Ben Cohen

Chris Hedges believes the financial crisis is so dire, the American dream is officially dead:

At no period in American history has our democracy been in such peril


or has the possibility of totalitarianism been as real. Our way of life


is over. Our profligate consumption is finished. Our children will


never have the standard of living we had. And poverty and despair will


sweep across the landscape like a plague. This is the bleak future.


There is nothing President Obama can do to stop it. It has been decades


in the making. It cannot be undone with a trillion or two trillion


dollars in bailout money. Our empire is dying. Our economy has


collapsed.

Hedges is somewhat of a pessimist, but he has been right about pretty much everything else so far. Depressing, yes, but probably true.