Yes, I understand productive debt and I have no beef with it (so long as no one is coerced into bailing out bad loans, which, of course, is constantly happening

Yes, I understand productive debt and I have no beef with it (so long as no one is coerced into bailing out bad loans, which, of course, is constantly happening in the name of "systemic stability.") If you think this has anything to do with the huge debt overhang in western societies... Well, I have an efficient market to sell you. Read Keen. He explains it very well.