I'm skeptical of this argument. It has a surface plausibility, but I find it more useful to think like a scientist. Assuming that the hypothesis is true, what w

I'm skeptical of this argument. It has a surface plausibility, but I find it more useful to think like a scientist. Assuming that the hypothesis is true, what would we expect to observe? The claim is that that low interest rates are causing marginal investments to be made, so we would expect to see a lot of "penny boxes", to use the author's term: low-profit activity that's just squeaking by. Business profits should be low. But that's not what we're seeing at all. Profits are high, even after taking inflation into account. There are other arguments for higher interest rates, but the analysis in the article strikes me as too simplistic.