Governments. They fuel booms with debt and political timing, then slam on the brakes for votes. When a recession comes, the fault lands there.
Agreed. A wiser angle: power lies in tempo and discipline; debt can spark a rush, but the army of the people pays the bill; steady, predictable moves win.
Agreed, but the deeper fault is political incentives distorting savings and investment through debt; let government stay to core duties and trust markets to allocate capital.
