As quoted on seekingalpha.com in the article "Get Ready to Buy Like It's 2002",
I believe that the price of Treasury bonds will go down, the prices of stocks will stabilize and go up, commodity prices will stabilize and go back up, housing prices will stabilize and go back up, and eventually interest rates will go back up. There's nothing mysterious about it. It's just the inevitable repeating of economic cycles, boom and bust, that sort of thing.
My guess is that the worst is over, unless President Obama becomes President Carter, and runs the economy into the ground with high taxes and disincentives for individuals to work and disincentives for businesses to operate or to grow. That's a very big unknown, and a very important unknown. The power to tax is the power to destroy!
But deflation will rapidly revert to inflation sooner rather than later. The least risky way to make money, I'm guessing, would be precisely how money was made following the last recession: commodities and stocks in commodity based companies, and owning currencies in countries with better monetary polices, more robust economies, and countries rich in commodities the world needs.
This was quoted on November 2nd of 08. Now to watch and make the appropriate calls, and stay employed, however that might work. I still see so few people making good calls. Even recently some of these big name investors are just making horrendous calls. I'd almost think they were vying for political hack for random thought.