"Krippner mistakes a period of high interest rates for a reorientation of nonfinancial corporations to financial profits."

One more time, just quickly.

According to JW Mason, Krippner "mistakes a general rise in interest rates for a change in the activities of nonfinancial businesses."

So my question is: Does it look to you like the rise -- and the fall -- of interest rates explains the change in activities of nonfinancial business shown in blue on this graph?

Graph #1: Interest Received as a % of Interest Paid (NCB)
and the 10-year Treasury Rate

My answer: Hell no!