Have a look at this chart. Really no explanation is required. Inflation, coupled with unemployment are, and will continue to be the two major problems that require solving for growth to resume.

To allow interest rates to rise, the Banking system will have to be beyond any doubt of collapsing, which will require the defaults of the vast majority of bad loans to work their way out of the system. This will be a gradual process. Thus, common stocks that benefit from inflation via commodities are still from a thematic viewpoint, intact as a speculation on increasing prices.