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It all boils down to the basic economic principle of supply vs. demand. If enough people demand a SST and are willing to pay whatever it costs to fly on them, the capability is definitely there to produce such a machine. At this point in time though, a demand for this doesn't exist - at least from enough people willing to put money down for it.
I have to disagree the demand for an SST-learjet exists and i feel 12 people flying at mach 1.6 costs more per mile than the cost of 100 flying people at mach 2 per mile.