I’m increasingly being convinced that there is now a higher probability (although still low…say 10%) of a “world turned upside down” scenario occuring’.
I think it may be manifested in a sovereign debt problem that expands beyond Greece and Ireland into Portugal, Spain, Italy and beyond. US may take some temporary benefit as safe haven investment, but with 70% of US debt maturing in 5 years or less, , we will be a world of hurt it yields need to go up.
Deadlocked, partisan congress will not tackle any near term or long term structural reform.
I’m trying to provide some protection of my hard earned assets in event of this increasingly likely “black swan” event.
