One of my favourite sections from @saifedean The Fiat Standard. That's why I save in #bitcoin instead.

"Users with negative balances, i.e., those in debt, lack security and risk catastrophic loss. Financial security, in the sense of having a stable amount of liquid wealth saved for the future, is no longer available in the current system. 

You will either witness the dissipation of your wealth through inflation, or you will borrow and live in the insecurity of losing your collateral if you miss a few payments. Fiat has effectively destroyed savings as a financial instrument, with enormously negative consequences."