The last time the Fed raised interest rates in June 2006, Facebook had one-tenth the users of Myspace and James Blunt’s You’re Beautiful was at the top of the song charts. Seems like a long time ago. If we go beyond 2006, recently Bank of England chief economist Andy Haldane found when he went digging through the historical records that interest rates are lower today than they were when FDR or Napoleon or Henry VIII or Genghis Khan or Julius Caesar or Alexander the Great were around. Or, if you want to put a year on it, lower than at any time since the ancient Sumerians made the first loans, payable in either silver or grain, back in 3000 B.C…..read more here…3rd quarter 2015 newsletter