Economic "Armageddon" predicted

▐ "America has no better than a 10 percent chance of
avoiding economic 'armageddon'."
To finance its current account deficit with the rest of the world, he said, America has to import $2.6 billion in cash. Every working day. The Dollar's parachute failed to open over the weekend, when a meeting of the world's top finance ministers produced no promise of concerted intervention. It is undeniable that America is living in a "debt bubble" of record proportions. The federal body of America is going to burst apart. It will be the END of the US as we know it.
http://business.bostonherald.com/businessNews/view.bg?articleid=55356 - Boston Herald, Nov. 23/2004