As a person who has only ever borrowed money for tuition, I don't understand the attitude that "debt is good", I never have and I probably never will. To me, an economy that is fueled from debt is a broken economy.<p>If you need to borrow $750K AUD (the median mortgage in Australia) to purchase a property, then something is terribly wrong with the market and you probably shouldn't be doing that.<p>Similarly, if a company isn't profitable and yet keeps a hyper growth mentality, this is another alarm bell.<p>If people are quitting their day jobs to speculate on crypto, then this is another alarm bell.<p>We have lost touch with what value actually means to society. Its time to reign in the bogus economy, and if that means facing the harsh reality of a downturn, then so be it.
"Spiral" implies there are drivers that keep inflation from de-escalating. Are there any ? Maybe this article is taking a stab at creating a self-fulfilling prophecy.