I think it could happen earlier than that, money is fleeing China and other Asian countries as their currencies devalue. China still has a massive foreign reserve to defend their currency but it's diminishing at a rapid rate.
Also as China's currency devalues, they are exporting cheaper goods to the world, that is exporting deflation. Meanwhile the Federal Reserve has embarked on a monetary tightening policy.
It's all looking rather dicey, there's a good reason why the market got off to the worst start of the year ever.
