Is America facing an economic crash?

OK, you’re already saying - there’s enough to worry about in the world - war, terrorists, human rights, technology, poverty, global warming - enough already!
But one issue that looks set to dominate the global agenda over the coming years is America's high potential for an economic crash
Propelled with post 9-11 paranoia and gung ho the american economy is but weeks from meeting the 8 trillion debt level limit set as an economic safeguard. Then March 23rd (my birthday!) they stop publishing the M figures. The M figures are a Treasury estimate of the total amount of cash in circulation. They are the only reliable indicator of how much money is being printed and going into circulation at any time (i think).
A little side track here to explain how cash works. the cash that is printed is usually debt based, which means that interest needs to be earned on it. This means the economy needs to be growing at a rate greater than the interest on the debt that underlies the cash in circulation (like earning enough each month to pay of the minimums on your credit cards).
But America hasn’t been earning enough for some time. Because their manufacturing base has transfered overseas (a ‘side-effect’ of glorious american capitalism) more of their money is going abroad to pay for things than is flowing in to pay for things. The only real industry they have left beyond cars is the copyright industry - which includes entertainment, technology and pharmaceuticals - and the defense industry. American corporate policy (and lunacy) revolves around keeping these few industries which America still dominates in, healthy and alive.
Because of this lack of money, the Bush administration has been borrowing money to pay off the interest on the debt. You remember how Clinton had a budget surplus? Well Bush isn’t just borrowing, he’s borrowing to pay off the interest on the borrowing.
And as a result, in the last ten years, the total amount of cash in circulation in America has - wait for it - doubled. Yes, according to the M figures, the amount of cash in circulation has doubled, while the true value of the dollar on international markets has been severely damaged. By stopping publishing the figures they can no doubt increase printing cash at a steeper rate.
Which means only one thing. Hyper inflation. American economic policy hasn’t changed so much since the 30s, the only difference is now so much of the rest of the world has their economies tangled with America’s. And when there was hyper inflation in the 20s and 30s there was a resulting massive depression which was only ended by the start of world war II.
The most scary aspect for me, of this whole scenario is what will the defense companies and mercenaries do for money when their governments can’t continue to employ them in perpetual retribution? Debt collection? Political protection services? ‘Hearts and Minds’ missions? Lets hope there’s a plan.
And will us in the rest of the world be ready to accept American asylum seekers?