The prospect of a govt bailout of financial institutions of $700 billion entails a massive increase in the federal deficit. Since the government must print money to pay for this increasing the amount of outstanding govt bonds it seems likely to be inflationary.
While this is not specific investment advice I would note that the following asset classes generally do well in such an environment
treasury inflation protected bonds (TIPs)
non dollar denominated assets particularly bonds
commodities
and that long term dollar denominated bonds perform poorly
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