This is an interesting question but I think you've got the terms reversed. This question should read: "Real interest rates are basically the "return on capital

This is an interesting question but I think you've got the terms reversed. This question should read: "Real interest rates are basically the "return on capital". The question is: is it the supply side that is weakening (i.e. there are fewer and fewer worthwhile projects with reasonable returns) or is it the demand for capital that has grown (i.e. more and more people seeking to invest their savings in capital)?"