He discussed his investments ideas and broader economics themes for 2011, including:
- Municipal and state defaults/bankruptcy
- The Irish "bailout"
- Italy being a bigger problem than Spain, and is currently off the radar
- Real Estate: bursting in Australia, and about to burst in Canada, but doesn't comment about the UK because he doesn't know enough about it. "Australia is in a particularly nasty spot", says Mish
- China overheats, has an unemployment problem bigger than the US
- Continuous strengthening of the dollar
- Market sentiment and the extreme bullishness it has reached, both in equities and commodities
- He also discusses Japan, which he likes here, even though the Japanese currency can blow up at any point! So you need to hedge your currency exposure.
I would agree on everything, but Japan. The Yen being at a historical high, and equities markets having rebounded, I'm not sure it's going to be a good investment in USD terms. But I might be wrong.
You can either listen on the embedded player below, or download the MP3 file.