IN DEBT WE TRUST

The first recession started when a rich person said “I’m cutting back.” Everyone else immediately panicked.

✗ FAKE
Recessions are periods of broad economic decline with many causes, such as financial crises or shocks. A rich person saying they are cutting back did not start the first one.

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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 Dow Jones Industrial Average was created in 1896. And it’s still giving investors stress wrinkles today.The first fee was charged for “convenience.” The convenience was disappointment.Cryptocurrencies are decentralized and operate without a central bank. So basically, it’s chaos with better marketing.The first financial advisor was just an aunt saying “don’t buy that.” And she was right.“Diversification” was invented after someone put all their gold in one basket and the basket had opinions.See all In Debt We Trust facts →

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