Bad News for the U.S. Dollar

America less than a 10 percent chance of avoiding economic "armageddon," according to Stephen Roach, the chief economist at investment banking giant Morgan Stanley.

Roach says that America's record trade deficit means the value of the dollar will go down, the dollar already low compared to the currencies of the euro and the yen. "Smart people downtown agree with much of the analysis. It is undeniable that America is living in a 'debt bubble' of record proportions," the article states.