Hoarding vs debt

It’s fascinating to see people preaching against “hoarding” when they have no problem with debt-funded purchases. Both involve pulling the demand curve forward, but debt is considerably worse than hoarding because you’re making the purchases with money you don’t have.

And yet, people have no problem when it’s done in the much more harmful manner, mostly because they don’t understand the underlying mechanics or the inevitable consequences. Whereas, they are capable of grasping the cause-and-effect resulting in an empty shelf at the local supermarket.