Yep. It is funny to me that someone seemingly knowledgeable cannot see a time where people have lower time preference. Our current obsession with credit and debt is not even 100 years old. 100 years ago people didn't have anywhere near the debt we have now. Even culturally it was frowned upon. Now, I'm not talking about a business needing capital to expand. I'm talking about buying a car. Buying house. People did save to buy because they could and because it wasn't common to go into debt to buy clothes... We are in an unsustainable debt trap. I don't think debt will ever go away completely but it will be drastically decreased when our money is no longer inflated and manipulated.