The Low Interest Rate Myth

Probably the most common explanation for the financial crisis is that interest rates were too low for too long.  I would dispute this.  The whole point of our financial ponzi scheme was to promise and keep interest rates higher than what they would otherwise have been.  Had only good lending been permitted, vast sums would have had no investment opportunity driving interest rates far lower than they had been.  Interest rates were not too low but too high given the available investment opportunities.  So when people ask, how can more of the same which got us into this trouble solve our problems they are incorrect.  This is not more of the same but something very different, the truly low interest rates the investment possibilities offer us.  It is the spur in our sides to take more risk to build a better future because our current one is not very promising.