Pig Pen

"Pork bellies, which are used to make bacon, which you might find in a 'bacon, lettuce, and tomato sandwich."
--Randolph Duke (Trading Places)

Nice missive by Mish noting the spectre of sovereign debt defaults by the PIIGS (Portugal, Ireland, Italy, Greece, Spain), and the timing of a dollar crisis. He suggests that the dollar crisis may be 5-10 yrs out, while in the meantime we have primarily deflationary forces in play. These include PIIGS debt default, Japan, and, yep, a bubbly China.

All this resonates pretty well w/ me.

position in USD