Economic bubbles throughout history tend to follow similar patterns, but they are never exactly the same. In 1929 and 2008, there was a lot of debt — but most of it was owned by the private sector. Today, the government sector has a lot of the debt. Still, one man’s debts are another man’s assets. And when the bill comes due and the debt assets aren’t as appealing as the alternatives, some sort of monetization is inevitable. I recently sat down with CNBC’s @sorkinsays to discuss this in the context of his latest book, 1929: Inside the Greatest Crash in Wall Street History — and How It Shattered a Nation. The parallels between that era and now are striking. You can watch the full conversation at the link in my bio.