> So, sure, if a few people don't want to have any debt, that's great. But if ev... | Hacker News

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sfilargi on Dec 14, 2018 | parent | context | favorite | on: Debt Worldwide Hits Record $86k per Person

> So, sure, if a few people don't want to have any debt, that's great. But if everyone stopped borrowing we'd be in a lot of trouble.

Why would we be in trouble. Explain it to me like I know nothing about economics?

nostromo on Dec 14, 2018 | [–]

That's a big ask. Instead I'll point you to the best video I've ever seen on this subject, by Ray Dalio. It's long, but worth it.

https://www.youtube.com/watch?v=PHe0bXAIuk0

coldtea on Dec 15, 2018 | [–]

This will explain the opposite: https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290

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