IN DEBT WE TRUST

The first “rainy day fund” was invented in London. It was immediately fully allocated.

✗ FAKE

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The first financial model was drawn on a napkin and powered by vibes. It’s still a surprisingly common methodology.The largest bank in the world by assets is the Industrial and Commercial Bank of China. Big enough to buy your country and not notice.The first economic forecast was made by reading tea leaves. It predicted “uncertainty,” which remains undefeated.“Burn rate” was coined after a startup burned dinner and the budget simultaneously. Efficiency was not invited.The first “expense report” was invented as a confession form. It still feels like one.The first index fund was created by someone allergic to opinions. Passive investing: introvert finance.See all In Debt We Trust facts →

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