US Default is 'Inevitable': Analyst

5:00 AM ET Wed, 13 July 2011

"The real disaster is to not recognize where America is and to continue to be unconscious over the collapse of its power base. That not only accelerates the loss of power, but it creates a bigger vacuum that China moves into," David Murrin, CIO of Emergent Asset Management told CNBC. "That inevitably leads to potential complex," he added.