> Has there been any evidence that the long period of ultra-low interest rates we enjoyed resulted in additional productive capacity? I’d say that the comparat

> Has there been any evidence that the long period of ultra-low interest rates we enjoyed resulted in additional productive capacity? I’d say that the comparatively low inflation rate from 2010 to 2020 [1] qualifies as evidence of this. > It sounds like a lot of it just went to unprofitable SaaS companies and other virtual endeavors, and not so much to things that exist in the physical world. A lot of it did, I agree. But it would be strange if somehow no productive equipment at all was purchased based on a low-interest loan. [1] https://tradingeconomics.com/united-states/inflation-cpi https://tradingeconomics.com/united-states/inflation-cpi