Zero Hedge: Two Points

From Here's A Chart You Won't See On CNBC at Zero Hedge:

Today, we are happy that more are starting to notice this simple math problem. Here is Deutsche Bank's Torsten Slok who is the latest to be struck by this "revelation".

If you look at cash levels relative to debt levels you find that corporate cash holdings are at the lowest level in 15 years...

Good point. Cash -- or let's say money -- relative to debt, is an important measure. Hmmm... Where have I seen it before?

Today, I am happy that ZH is starting to notice.

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Zero Hedge makes a good follow-up point:

Of course, as long as rates are low and keep declining, this record debt hoard is not a big issue.

Once rates start going up, however, nobody would possibly have been able to foresee the absolute massacre that will take place at corporations, levered with publicly tradable debt to never before seen levels.

You hear that all the time, about government debt. "If rates go up, there'll be a problem". But it is just as true outside of government as in, as ZH notes.