> sovereign and corporate and private debt levels are sane
You don't understand what debt is. It's not a bad thing you imagine it to be.
If you owe me money, for instance, I'd be much less likely to rob or kill you. Because then you'll never pay me back.
So following the same logic, if you loan me money, I am more likely to kill you because then I won't have to pay you back?
It's true. You're also more likely to make me poorer, by simply not paying me back.
That's why lenders do risk assessment and charge appropriate interest. And why jackbooted thugs are retained by both parties, to make such killings unprofitable (albeit less unprofitable for the borrower).
I'm surprised you haven't thought of this yourself

>That's all the US has left at this point
Might have something else left, Elwar. Hint: you work for them

As I said "don't produce anything except for war and debt". Though they both tend to go hand in hand.