Alan T Perry 🇨🇦

@ChrisMayLA6@zirk.us Yes, individual bonds are repaid with interest, but net debt still rises as new bonds are issued. I was too hasty in my comment.

@ChrisMayLA6@zirk.us Which implies that in my case, though I always pay my cards off on time, and thus never pay interest on them, I also always carry debt as I use cards regularly. (I don't use debit cards at all, and not much cash.) Fair enough, but on the macro level a society with widespread use of credit cards will appear very different on the table to a society that tends to use cash or debit more.

@ChrisMayLA6@zirk.us My non-economist take: A difference between private vs public debt is that by and large private debt is expected to be repaid, whilst public debt isn't. Increasing private debt can lead to widespread defaults with obvious consequences.

@ChrisMayLA6@zirk.us Methodology question re credit cards: how is that reflected? E.g., I have a card with a $20,000 limit, just received a bill for $2000, which will be paid in full before the due date, and meanwhile have already charged $200 in the new billing cycle. What is the debt? $20,000? $2200? $2000? $0?

@javensbukan@mstdn.ca @ChrisMayLA6@zirk.us Was going to ask the same question. It would be interesting to see a comparative table with mortgage debt stripped out.