"A new car is a depreciating asset. It depreciates thousands of dollars the second you sign the papers and drive it off the lot. Even at 0%, you will lose money on a new car. You are not "gaining" money vs inflation, therefore it is bad debt. "
Does a new car depreciate more because you use debt. The deprivation of the assets is not relevant. Companies purchase depreciating assets on credit all the time.
"A home might be good debt because it usually appreciates with inflation, but home loans are not 0.9%, they are 3.5% or more so you are still treading water even with a tax deduction."
You are asserting the debt is only good if used for an investment. This in not true. The decision to use debt or not is purely weighting the opportunity cost of paying cash, and your ability and comfort level with the risk you might not have the cash flow to make the payments.
"This is one of the big fallacies of the US economy, that homes are "investments".
Red herring. Irrevant to the argument.
"We have allowed ourselves to become a society of debt. "
Red herring. Moralistic argument.
"Cars are disposable assets and should almost never be bought with any amount of interest. The losses are then compounded. Don't even think about getting in an accident, you will be financially crushed."
If you total your car, it does not matter if you paid cash or financed. You will only get what the car is worth. If you financed, then you'll need to come up with the difference. If you paid cash, you already did.
"This country is in for a very rude awakening as zero pension, all 401K people retire. The average 401K value amounts to living expenses for less than 5 years even without paying for housing. And most people don't pay off their house. "
Yet, again. Red herring. This has nothing to do if debt is good or not. People with pensions can have debt. Those with large 401k balances can.
What you are arguing is that people are not responsible any more. They don't save and will need to work forever. However, you fail to prove this is because of debt. Without debt these people would still spend all they money. They'd still have not savings and nothing to show for it.
Currently, some of these people have, or have used debt extensively. But they might just spend too much with or without it.