Why didn't established companies add any net jobs during the Reagan economic expansion that lasted 17 years? I look at our problem as excess resources, rather than excess capacity. Leftists look at the problem as excess capacity, because they don't want to have the government cut back for the sake of allowing the private sector to keep more of its resources. Austrian economists look at the problem as excess capacity, because they love to pick at the remains left by human misery.
But here's the problem - that no one seems to want to exploit these resources via taking out loans to develop these resources into something more useful. There has to be an economic message in that the expected long term return is much less than the cost, i.e. that it isn't profitable to convert the excess capacity into something useful and with interest rates as low as they are that's troubling.