So here is what the forward-thinking investor may wish to consider. The antiausterity shift abroad all but assures greater monetary easing by the second half of 2012. The European Central Bank will have little choice but to "print money/expand its balance sheet/lend/bail out." And once it happens, the lower-deficit country ETFs should enjoy a dramatic pop. The three that deserve the most consideration? iShares MSCI Germany ( EWG), iShares MSCI Sweden ( EWD) and iShares MSCI Finland ( EFNL). I wouldn't invest in these today, but I am keeping them on my watch list. If the ECB acts (and it will), and if the markets then respond favorably with respective prices climbing above long-term trend lines (which they should), the gains in these funds could be superb. Granted, a much larger theoretical question is: how long would the infusions satisfy market participants? That's not something that anyone is able to gauge. Therefore, in my targeted asset allocation approach, I prefer assets with wide spreads over comparable Treasury bonds. They include ETFs that represent dividend stocks, high-yield corporates, investment-grade corporates, intermediate munis, preferred shares and pipeline master limited partnerships. You can listen to the ETF Expert Radio Show "LIVE", via podcast or on your iPod. You can follow me on Twitter @ETFexpert.