Bhaskaran sees interest rates dropping further and growth continuing in the U.S. and Europe.

CNN: THE LONG, HARD CLIMB BACK UP

In theory, when interest rates are dropping, PE ratios should be expanding because fixed income becomes less competitive with equities when interest rates are low.

FORBES: CSX Corp Offers Above-Market Yield And Growth At An Attractive Valuation

Gingrich also gave Republicans credit for dropping interest rates, surging revenues, and for producing a healthier economy.

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Investors new to bonds discovered it was not a safe haven to be receiving 4% annual interest on bonds if the bonds were dropping 10% in price annually due to rising interest rates.

FORBES: Bonds Look Mighty Bubbly

As interest rates begin to fall in Australia, it will hurt conservative investors who are seeing the yield dropping on their cash deposits.

FORBES: INTERVIEW: Cut In Australian Interest Rates May Push Aussies Toward Gold --Economist