Ray Dalio at the FED, October 4th

The full speech can be found here, however, we have extracted its main ideas:

Abnormally slow growth
Future investment returns very low
Monetary policies less and less effective
End of long-term debt cycle
QE close to the limit. Worst country Japan, then Europe, USA and China
There is a limit as to how negative bond yields can go
Gold more attractive than bonds with negative yields
Most similar period 1935-1945

This speech is a must-read paper for everyone interested in understanding the financial world we are living.