In an economy constrained by low interest rates, a stubborn trade deficit and natural demand for the world's reserve currency, there is little to cushion the blow of austerity.

This is an Armageddon trade the kind of trade that only makes sense if you believe the world will blow up or J&J will blow itself up, or if you happen to have a late-day margin call.

Easterly trade winds blow from the Indian Ocean over the African continent, losing much of their moisture as they go.