My own asset allocation remains 60 percent stocks, 40 percent bondsThe 10-year Treasury bond currently yields 1.60%. This is a bigger bubble than the housing market. Many, many Americans are being sucked in to Treasury securities as a supposed safe haven. Treasury bonds are not a safe haven. When price inflation heats up, the value of these bonds will crash and a wait until maturity will mean pretty much no income and a payout in severely depreciated dollars.
Never follow a Harvard economist into an investment.