I generally agree with you, but there are two counterpoints that I think we should keep in mind: * "The passage of time is really all it takes to turn a liquidi

I generally agree with you, but there are two counterpoints that I think we should keep in mind: * "The passage of time is really all it takes to turn a liquidity problem into a solvency problem." - Powell * This is true as long as you inflate the debt away or have strong policies to pay the debt off. The US had this after WW2 and it took 30-40 years to pay off/inflate its debts way[1]. This is also good to keep in mind for corporations. With that in mind, I think "debt is a non-issue" as long as we've got good policies around this after the pandemic ends. --- [1] https://www.theatlantic.com/business/archive/2012/11/the-long-story-of-us-debt-from-1790-to-2011-in-1-little-chart/265185/ https://www.theatlantic.com/business/archive/2012/11/the-lon...