The contrarian in me says these are too easy. If that's what everybody thinks and is betting on, maybe they're wrong, at least in terms of the time frame. If debt deflation is really the dominant force in the next few years then that puts the lie to these theses. And I'm becoming more convinced that that is the case, and we're all in denial about it. Clearly the Fed is mitigating that force, but the question is can Bernanke win that battle. Mish thinks not. I'm beginning to think this is the way to play things in the near future. It also portends a lower market which I think we will and should have.

Of course gold is a mystery and may be a good play even in this scenario. The uncertainty/crisis play. That's also Mish's viewpoint, I believe.