Rumors, accusations and denials are swirling around that the King of Pop is deadly ill and needs a lung transplant to survive.

The possibly fatal ailment affecting Michael Jackson is a genetic condition called alpha-1 antitrypsin deficiency, which according to WebMD.com "can't shut down certain enzymes that attack bacteria and inflammatory cells. As a result, those can attack the lungs, resulting in emphysema."

Jackson's condition was first reported in an interview with author Ian Halperin in Britain's Sunday Express. "He also has emphysema and chronic gastrointestinal bleeding, which his doctors have had a lot of trouble stopping," Halperin told the paper. "It's the bleeding that's the most problematic part. It could kill him."

Halperin also said that Jackson "can barely speak. Also, the vision in his left eye is 95 percent gone."

A Jackson spokesman this morning denied all the health rumors, saying the singer was fine and working in the studio -- and plans a world tour in the near future.

"Mr. Jackson is in fine health, and finalizing negotiations with a major entertainment company and television network for both a world tour and a series of specials and appearances," Dr. Tohme Tohme told E! Online. (Whatever you say, Tohme Tohme.)

[AP photo]