yes I agree with you on this but I don't think interest rate gonna be decided by free markets as there are whole breed of keynesian policy makers around the world (active intervention- actually too much active intervention). And yes your second last sentence of the comment is holy true- cash flow is the king, but people expect too much free lunches from government and that's really bad thing for same people. Major fiscal imbalances are due to this mentality (expecting free lunches).