If you owe the bank $10,000 you have a problem. If you owe the bank $10,000,000 the bank has a problem. Seems like the creditors are potentially unhappy either

If you owe the bank $10,000 you have a problem. If you owe the bank $10,000,000 the bank has a problem. Seems like the creditors are potentially unhappy either way. Debt aside, I would maintain that if people can barely afford bread, they are likely not buying cars, washing machines, or other more expensive items. That seems like a recipe for a vicious cycle where society ends up regressing towards individualism and barter, with less economic strength.