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A comment on This Bubble's Got Legs. Parent comment

Re:This Bubble's Got Legs by forgetsusername on Friday September 09, 2016 @03:52PM (#12465541)
>The financial problems originated with excess debt, but debts that are so large that they cannot be paid back - will not be paid back.

So in other words, you believe that financial problems are caused by too many assets? Because that's how a balance sheet works.

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Re:This Bubble's Got Legs by cloakandswagger on Friday September 09, 2016 @04:30PM (#12465820)
Nice attempt at applying your Econ 101 knowledge, but a balance sheet where the "assets" are made up of meaningless fiat created by debt instruments does not work like that.
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Re:This Bubble's Got Legs by forgetsusername on Saturday September 10, 2016 @08:22AM (#12468856)
>are made up of meaningless fiat created by debt instruments does not work like that

Then the debt is equally meaningless. Maybe you should try applying financial principles, rather than reading Zero Hedge.

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