Myth: Amerikan consumer debt is piling up.

Under capitalism, debt is actually a sign of the ability to pay as recognized by banks. Wealthier people have more debts. What is important is the net worth and physical standard of living. Even if credit card companies do make more money than ever, it does not prove anything unless the physical living standard, consumption of actual commodities declines and there is no proof of that.

Anxieties concerning debt are real, but most such concerns are bourgeois anxieties, the same ones Donald Trump has to have. Third World debts are smaller relatively speaking, but have a real effect on real proletarians.