another way to think about this is that there is a "debt to collateral mismatch"
"too much debt and the value of things backing the debt is now worth less."
People with dollar denominated debt need ...
It's funny because it's true, and because the collateral is also debt.
"Our debts are collateralized by assets, which are someone else's debt, and those debt-assets went down in price a lot relative to our debt."
"Our debts are collateralized by assets, which are someone else's debt, and those debt-assets went down in price a lot relative to our debt."
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