Debt is a very specific word. Yes you can get capital by going into debt. But just "capital" can also mean it was yours to begin with. Debt means you created an obligation to somebody else, which is additional information. You have X amount of money - capital - but there is a difference if you get it by borrowing or if it was already yours.
what i meant was, that if people dont use debt as a form of capital (investment in something to get a larger return) then it is basically bad as you say because you will be under water when paying the interest..
basically, people who go into debt need to think like a capitalist, and invest it in something (thier skills, a car to get a better job somewhere, etc)
Debt is a very specific word. Yes you can get capital by going into debt. But just "capital" can also mean it was yours to begin with. Debt means you created an obligation to somebody else, which is additional information. You have X amount of money - capital - but there is a difference if you get it by borrowing or if it was already yours.