I have always had the sense that being in debt is a bad thing. It’s much better to not owe anyone, work with available resources, and live within one’s means.
But in a reply to one of my posts, it was suggested that the economy would not improve until borrowing increases.
Now, I understand the value of having a line of credit. But the idea that we cannot possibly live within our means just seems out of whack. If we cannot survive without borrowing that means that we are simply building debt. Is that not another bubble?
Sooner or later, that debt is going to have to be paid. How are we going to pay it if we cannot even earn enough to avoid having to borrow even more? On any scale, global, national or local, this seems to me like a really bad idea.