I agree with you @andyjem

Debt is a danger, but a necessary danger. It helps provide liquidity in between equity financing. It also helps lift people up from tough situations. Arguably it has put a lot more people in tough situations compared to lifting them out.

Dharma is quite interesting in this regard. It's a great take on the current financial system and actually quite ambitious given the size and monopoly of banking. This could do a lot of good for companies and startups. It can make debt investing (bonds and debentures) a much more transparent market.

Fiscal deficit is a whole other topic. Let's not even get into governments mismanaging funds 😝

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