It is counterintuitive, which is why it was a learning for me.
The reason to take on debt in a recession is simple; others aren't doing it because it's expensive.
This mass obstension causes investments to appear to lose value, evidenced by dropping market prices.
In reality the investments are just as valuable as before. Only their "marginal" value has dropped. In fact, you may now have access to even MORE valuable investments and opportunities that were out of reach pre-recession.
For example, high performing developers laid off from their $200k/yr positions, now competing with each other for your open $80k/yr position.
Or the opportunity to cannibalize the customers of competitors failing to raise capital or trim their fat quickly enough.
Or foreclosed homes that will double in value as soon as banks find a new way to make lending cheap again.
