The economic disaster trade appears to be short commodities and long Treasuries.
Timing is everything, but when things turn around the USD is going to weaken and commodities prices are going to pick up. That’s when you would want to be long a Canadian or Australian Index Fund, I think.
The quickest way that happens, probably, is when the either the Fed or the ECB credibly commits to an expansionary monetary policy. A Euro breakup counts because the Dmark skyrockets and the Italian, Greek, Portugese and Spanish currencies plummet.
‘We’ need to destroy some wealth in those problem countries pronto.
Not Unreasonable 