Debt used to create value or accelerate value creating processes is good debt. Debt used for stock buybacks, paying off interest on existing debts, executive bo

Debt used to create value or accelerate value creating processes is good debt. Debt used for stock buybacks, paying off interest on existing debts, executive bonuses, etc. is bad debt. It is pretty straightforward, we just seem to have lost our connection between the stock market valuation and the actual value of companies. We were content watching companies increase in value when they were actually stagnating and drowning in debt.