Yes, I got your point, thanks. I hear your reasoning.
But the underlying threatening fact is rationalizing the confidence factor with the study of the private debt increase, only works for so long.
As I said, debt is still debt. Like taxes a point in time always eventually comes that it's by then quite difficult to escape. An euphemism.
Debt is like making bets and accepting to cut some of your limbs off, knowing they can grow later again by themselves, if you give them enough time for that, between the last and the newly done cuts. What happens when the spared limbs, rest of the body, have gotten too old already, with miserable amounts of life left?
People have the natural instinct to avoid debt when possible, or when they don't, lasting long, it's likely something really wrong is going on with their perception of the world vs. their self-interest, IMO.
If that weren't the case, I don't see why more people of the middle class wouldn't fear to put themselves in the millions $$$ debt each, and tell themselves, who cares? I'm not gonna pay it back ever, anyway.
People or businesses haven't been that much insane in their vast majority, yet.
Thus, the private debt shown on your graphs is much deceptive in this sense, re: it's supposed link to confidence, because, IMO, if one bothers to look closer, it has for most of it been forced on the peoples through the rest of various other deception and plunder schemes, like money printing, exacerbated consumerism, moral hazards in securities, insurances, and stolen purchasing power, to name a few.
My .02 oz
"Cyril" pronounced "see real". I code stuff.
"To study and not think is a waste. To think and not study is dangerous." -- Confucius
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