Governments around the world need to do get rid of the monetary policy system of trying to control interest rates via central banks.
This has resulted in interest rates being artificially low for decades, fueling a long term credit bubble (a market distortion).
"Float" world interest rates (as we did with our currency in the 80's) at let the market determine the price.
For those that say that the GFC is evidence free markets don't work, I say, we don't have true free markets and government leaver pulling is what got us into this mess.
Unfortunately, there is much more government leaver pulling to come.
