One is to build a machine, a road or whatever that increase productivity. So invest a million and you manufacture 10% more a year with same labour or even material input. This is great.
And then there is getting debt to pay your daily expenses or something not productive, see credit cards when used when there is no excess.
It seems that lot of debt on global level even with nations is in second category... This might have worked with growing population and productivity from first kind, but without that population growth it might become bad...
One is to build a machine, a road or whatever that increase productivity. So invest a million and you manufacture 10% more a year with same labour or even material input. This is great.
And then there is getting debt to pay your daily expenses or something not productive, see credit cards when used when there is no excess.
It seems that lot of debt on global level even with nations is in second category... This might have worked with growing population and productivity from first kind, but without that population growth it might become bad...