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In principle, therefore, China's stock of public debt could be rolled over indefinitely and it would still shrink relative to the size of its economy.The NAO notes tartly that the governments of some countries borrow for "consumption", paying salaries and other outlays that leave nothing durable behind.
As I said in my speech last week at the University of Delaware: a lot is riding on the level of interest rates, including financial asset valuations (to include stocks AND bonds), housing prices, the funding of the federal government, consumer debt service ratios and the consumer's willingness to borrow for consumption.
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Borrowing for consumption of things like vacations, luxury items or personal whims, fantasy, vanity and extravagance can be hazardous when an economic downturn occurs.
By making connections between people with surplus funds and those who wish to borrow for investment or additional consumption, they help oil the wheels of the economy.
The idea was to curb borrowing for consumption while raising revenue to pay for revenue-losing provisions of the legislation.
"You can argue about the consumption side of debt, but one thing that you can borrow for to improve your standing is education.
The haves can borrow for virtually nothing.
Remember: You can't borrow for retirement.
A parent can't borrow for retirement.
"We're borrowing for maintenance," Mr. Croft said.
Borrowing for auto loans increased 2.8 percent.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com