US recession fueled by low wages and consumer debt

From "The Real News":

"US recession fueled by low wages and consumer debt

Leo Panitch: Weakening of unions and global pressures on US wages a major factor

Thursday January 24th, 2008

Leo Panitch is the Canada Research Chair in Comparative Political Economy and a Distinguished Research Professor of Political Science at York University in Toronto. Panitch is also the author of Global Capitalism and American Empire."

You can read the transcript of the Panitch interview here.