Thinly slice or shred the Brussels sprouts. If they are on the larger side, remove the core. (I find it easiest to slice in half first and cut an upside down “V” to remove the core.)
Heat a large skillet over medium heat. Cook the bacon until crisp and remove to a paper towel-lined plate.
Return the pan to the heat and, once hot, add the Brussels sprouts, followed by the nutmeg, salt, and pepper. Spread out the sprouts and allow them to sear for a minute or so, or until the edges are starting to lightly brown and crisp. (If you are not using bacon, heat the two tablespoons of olive oil, or enough to lightly coat the bottom of the pan, and proceed as directed.)
Stir and continue to cook the Brussels sprouts until they are bright green and slightly wilted, or about 1 to 2 minutes more. Remove the pan from the heat. Add the walnuts and the cranberries and toss to combine.
Sprinkle with the reserved bacon, and serve warm or at room temperature.
