> Theoretically, credit should be used for one thing: to make more money. (not less)

Credit moves money across time. That’s it. (Analogous to paying a shipper to move stuff across space.)

Not all consumptive debt is bad.(And not all consumptive loans are wealth destroying. I opted to borrow when I bought my car because the rate was so much lower than what I figured I could earn with the money.) And not all cash-flow positive wealth is good.

We should be more scrutinising about how debt is used. But especially for folks with volatile incomes, accumulating debt for consumption is fine as long as it doesn’t snowball.