> That's an important case, Let's think for a second here. You don't think that's a particularly important case? There is a reason why being indebted is view

> That's an important case, Let's think for a second here. You don't think that's a particularly important case? There is a reason why being indebted is viewed with a tinge of moral disgust -- debthood makes it so that when you fail, someone else also is at a risk of failure. Now, there is a sense in which having some of this is good because it creates shared social interest; but goosing it and making that risk systemic pushes it beyond the organically healthy state for the economy. A person who has no debt (low wages or otherwise) is, actually, a force for stability in the economy. Not of course, the type of stability that the fed cares about.