Not all people have debts. I don't have for example. That means debt is not necessary. So... Maybe people should avoid having debts. Btw i suspect you agree with that. So what will happen in this case? I mean when a significant amount of people avoid having debt.
Discussion
This is not a thing because the government has debts in our name. Everyone is in debt, even people who just arrived here or were born.
Ok. Then what if a significant portion of individuals don't have loans?
And by the way government debt is a different matter.
I haven't had so much as a credit card in fifteen years. Not that I ever had a problem with the card, i just don't like the possibility.
No debts that others can call in means we have more resilience than the average citizen in a Stage One or Stage Two collapse.