No, you don't understand. For one thing you'd need to be completely brain dead to hold _bonds_ in this scenario specifically. You're basically lending money to whoever is issuing bonds and they'll be paying you pennies on the dollar in devalued currency. You should be _issuing_ bonds, if you're a company, and hoping you find enough fools to buy them up. For another, US stocks are necessarily tied to the US economy, which will be completely fucked for a decade if hyperinflation were to occur. I think you can deduce for yourself what will happen to stocks in this case.

Don't get me wrong, I think Venezuela-style hyperinflation is unlikely (unless we get a communist government or something in which case hyperinflation will be the least of our problems, and the economy would be fucked for a hundred years). But higher than normal inflation is very, very likely indeed, and you need to start thinking in terms of what that means for you. The old things like "buying bonds" might cease to work to increase, or even maintain wealth, irrespective of yield, if this gets even remotely out of control.