So the main theory is that if you get rid of all debt, you'll be better off, but if everyone did that, it doesn't help because relative debt drops off and everyone stays in lock-step.
Or, to put it another way, what's good for the goose is good for the gander.
That's the keynesian theory, anyway: not everyone should save; not everyone should get out of debt.
Of course, I'm against the keynesian theory. I think saving is good and getting out of debt it good. But I can see how a centralized bureaucracy would want to go the other way. After all, if you have a monetary policy that promotes out-of-control inflation, you can't very well recommend saving.
Instead, you have to recommend getting into debt, under that system. Their goal is to borrow in dollars and pay it back in dimes.
The best strategy is to exit keynesian economics completely. And now, we have that option: cryptocurrencies.
For more information on this topic, take a look at "Deleveraging Bad for the Economy?" over on mises.org.
The Hip Keith Hughes does a great explanation of the Federal Reserve, minus the conspiracy. If you're into conspiracy theories about the Federal Reserve, sometimes it's useful to listen to a non-conspiratorial presentation on the subject.
