"the level of debt doesn’t matter"

Steve Keen:

I couldn’t convince several of the academics in the audience of the importance of private debt: they kept coming back to “one person’s debt is another person’s asset, therefore the level of debt doesn’t matter”.

Yeah, I think I get what the academics were sayin...

The Level of U.S. Private Debt

Why would it be a problem? Cost, maybe?

No, no, I see their point: It's probably better just to adamantly refuse even to think about it. Cough cough.