Although the recession today is not like the Great Depression, interest rates are very low, unemployment is high, and the stock market is, in my view, still suspect. I would prefer to invest almost entirely in bonds. My inclination is to invest in short-term bonds since I think rates have to go up given the deficit and I don't want to get locked into low yielding long-term bonds. Then when interest rates have risen significantly higher than today, I would switch to long-term bonds. However, I wonder what type of strategies investors used during the Great Depression (when I assume conditions were in some ways similar to today except much worse)?