I didn't say it's just complacency that keeps the credit system going. Low friction purchasing (complacency) absolutely plays a strong role. Trust is important,

I didn't say it's just complacency that keeps the credit system going. Low friction purchasing (complacency) absolutely plays a strong role. Trust is important, too (but is less strong than complacency) because the system wouldn't be used at all without it, and, to your point, fear absolutely plays a role as well.