[Non SE-R] What is wrong with this tire?

[Mark Holden]

http://www.vectorworld.com/~mark/tire.html

This is a tire off of my girlfriend's Volvo, and we're
trying to figure out what's up with it.  She noticed some
high-speed (50mph+) noise and vibration when decelerating
or braking, and when I went to look at it I found this.

Any suggestions as to what could cause this?  Damaged cords?
Tire was properly inflated, passenger side tire of exact
same age looks normal.

I'm thinking a new set of front tired (rears were replaced
last fall) is the solution, but what was the cause?

-Mark Holden
1993 Classic