Iran's President says no one in the White House nor any of the presidential candidates can save America from its economic 'downfall'.

Addressing a large crowd in Hamadan on Wednesday, President Mahmoud Ahmadinejad said the US is doomed to undergo an economic breakdown.

While the Bush administration refuses to confirm speculations about the US economy, American economists have conceded that the country is in fact in recession.

"No politician can be found in the United States who is capable of saving the US economy from this move toward the valley of downfall," continued Ahmadinejad.

He then rejected the speculation by 'superficial' observers that claim the recession was spawned by the privileged few who wait only to reap the benefits later.

"[The recession] will end the hegemony of world powers," Ahmadinejad concluded.

In March 2008 alone, US employers cut a whopping 80,000 jobs, the biggest decline in a single month in five years.

MD/AA