We are in this Goldilocks period right now where we have had this beautiful deleveraging. Inflation isn't a problem. Growth is good, everything is pretty good with a big jolt of stimulation coming from changes in tax laws.
There is a lot of cash on the sidelines... We're going to be inundated with cash. If you're holding cash, you're going to feel pretty stupid.
You can't have a significant rise in interest rates without knocking over the whole asset markets. The Fed is going to determine what the level of real interest rates are.
~ Ray Dalio, founder, Bridgewater Associates, CNBC interview from Davos, 2018 World Economic Forum, January 23, 2018