"Economic armageddon"

Stephen Roach, the chief economist for investment bank Morgan Stanley, has some bad news for us:

America has no better than a 10 percent chance of avoiding economic "armageddon." ... Roach sees a 30 percent chance of a slump soon and a 60 percent chance that "we'll muddle through for a while and delay the eventual armageddon." The chance we'll get through OK: one in 10. Maybe.

The reasons? A record trade deficit, a crushing debt load, a cratering dollar...

Check out the article (Boston Herald, Nov. 23)