I think there is some path dependency to prosperity and happiness being at this level coming off the 80s at higher rates would mean that sure rates were higher

I think there is some path dependency to prosperity and happiness being at this level coming off the 80s at higher rates would mean that sure rates were higher than now but people had bought assets at much lower prices (because higher past rates pushed values down). Now we’ve got the opposite where everyone blew their brains out at high asset prices because there was no interest rate / capital creation discipline AND now we’ve got higher rates so we are doubly punished.