THE GREAT JAMES GRANT LOW RATES AREN'T EVERYTHING THEY ARE CRACKED UP TO BE

 JUST ONE EFFECT: 

THEY GENERATE (KRUGMANESQUE) ZOMBIE COMPANIES, PILED HIGH WITH DEBT BUT AT A VERY LOW RATE LEVEL, COMPANIES WHICH JUST SHAMBLE ON.

BAGEHOT, EVEN AN INTEREST RATE AS LOW AS TWO %, A TEMPTATION TO BLIND SPECULATIONS.

https://www.youtube.com/watch?v=c5U74ScgF6Y