[mattduke]

It’s no accident that Austrian economics is newly popular. It provides the best explanation for the business cycle we just lived through.

The theory (addressed in Mises 1912 "theory of money and credit") is that because businessmen know that rates are low only artificially, they choose not to be fooled by them and indebting themselves. If we were all Austrians, the market already would have emancipated itself from the dollar.
http://www.cnbc.com/id/40340227

[Fiddlerdave]

2) In either case, the low interest rates are a sign of additional savings—and therefore a sign that more money will be available for future consumption. Businessmen respond to this by starting or expanding business lines aimed at future consumption—that is, projects that take time and larger amounts of money to complete.

These theories are all so absurd in a 21st century world of a small world with fungible investment.

Take this one step for an example. Businessmen are investing madly in businesses aimed at future consumption of products worldwide, the USA as well as everywhere.

It is simply that this investment is occurring in China and other countries and not in the USA.