Thus the Financial Times today. “Years of low rates carry risks for return to normalcy,” explains the newspaper. The International Monetary Fund is right on the money with its warning, but many years too late. Low rates and quantitative easing since the onset of the global financial crisis translate into many more rich people with much less appetite for investment. They are just fine, thank you. And thanks go to Ben Bernanke and Mario Draghi among central bankers. Fearing collapse in financial markets, they stuck to low rates and money printing for way too long. As a consequence, both America and Europe now face wobbly future. Even a small increase in rates can easily turn into unbearable debt for a large number of investors who foolishly expected low rates for ever. One look at stockmarkets says it all: up and down and up and down… Normalcy is a thing of the past, to be sure. Again, would that IMF came up with its warning three or four years ago.