I'm not an economist, so this may be a stupid question, but why are high borrowing rates among individuals and corporations bad? Like, I've heard high student and credit card debt mentioned as reasons that we should expect another recession, but it seems to me, naively, that these would be a good proxy for general confidence in the economy on the part of lenders. Why don't people cite high borrowing rates as evidence that there won't be another recession soon?
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