I--and I suspect many others of my generation--wonder a great deal about this trumpeting idea that "Debt is good! Take on debt! All hail our moneyed overlords!".<p>The article makes the point that debt is taken on expectations of future growth, and that it is in fact what enables the creation of engines (personal or commercial) to realize that growth. I think that that's a crucial point to make: debt itself is not terrible.<p>The author though fails to really explain (beyond a slight waggling of eyebrows and insinuation that it is peoples' own fault) that the future payoffs look worse and worse. Anybody who saw the housing market tank in '07 will never assume (one hopes) that their homes are going to be worth anything near what they paid for them. Anybody who was ever had been smacked around by the arbitrary cost structure of American healthcare is not going to assume that that debt will be managable.<p>Hell, anybody who is currently dealing with the rolling boulder of debt from going to a top-tier school and studying something useful is still acutely aware that things might not pan out.<p>It's absurd to pretend that somehow taking on debt builds character, that it allows access to opportunities (empirically shown to be unlikely at best), or anything else.<p>Don't buy what they're selling, credit or not.