Time to go defensive?

It is interesting to look at some of the flash points coming up around the world over the last few weeks:

• Bombs in Russia (I think there is more to this story to come)
• Riots in India
• Problems in Thailand
• Violence in Mexico
• Some protectionist stuff happening in the US / China row
• Greece and Portugal debt problems won't go away

Gut sense suggests that going slightly defensive in portfolio construction and probably upping exposure to both US equities and the US dollar in the short-term might pay some dividends.