Um, they literally do? In aggregate, it's a similar effect as a VC-backed company burning capital to push out competitors. You're spending money you don't have,

Um, they literally do? In aggregate, it's a similar effect as a VC-backed company burning capital to push out competitors. You're spending money you don't have, which drives the economy, raising demand and prices. The people who don't do the same can now afford less. Then the balloon pops, and your debt is forgiven, while you've reaped all the benefits from having the extra capital that your peers didn't. Even in a simple terms, it hurts people's sense ethical and societal obligations. Why should I deprive myself of consumption and be a responsible economic participant, when I can spend money I don't have and then have my debt forgiven?