Written by Samson Williams, Partner @AxesAndEggs

March 24th, 2008 was my very first day at Fannie Mae. I got a 90-day contract to be a “Workplace Risk Specialist”. Which is funny. As what kind of risky things could possibly happen at a financial institution who manages $3.2 trillion dollars in mortgage-backed securities? Low and behold those 90 days turned into eight years. In May of  2016,  I left Fannie Mae and went off to travel the world for a bit, looking for whatever was left of my soul after two tours in the financial trenches of Washington, DC.

Reflecting on that experience and looking at the market conditions of today, I am reminded of a quote by Mark Twain, “History doesn’t repeat itself but it does often rhyme.” So once again, as in 2007, we are on the precipice of not a Great Recession, but an even more monumental moment than the Great Depression.


  1. The same talking heads from 2006 and 2007 who didn’t see the Great Recession coming, are just as oblivious today.
  2. In 2007 the National Debt was $8.9 Trillion.
  3. In 2018 the National Debt is $21.4 Trillion as of Aug 20, 2018.
  4. Corporations are leveraged on free credit. This puts the entire economy at risk.
  5. We refuse to understand that “paper’ is not money, debt is not wealth, and that creating billions in artificial credit only moves the needle on hyperinflation closer to popping the bubble.
  6. The Fed has to raise interest rates. The markets will respond to this as humans tend to – emotionally and irrationally.
  7. An economic correction is needed to fix the system. This correction is straight out of Thanos’ playbook.

Though this recession isn’t directly the GOP’s fault, they will inherit the blame and then, in classic House & Senate controlled GOP operandi, screw up the response. President Trump’s tax cuts to stimulate the economy and further pump air into the stock market bubble, also bestows the GOP ownership of this ensuing economic clusterf**k. So while the recession was inevitable, congrats President Trump! This correction will be tremendous.

It is a mix of bad policy decisions, a failure to admit wrongdoing and then implement the needed actions to correct the error, and pandering to the financial elite. Once again all at the expense of 99% of people. It’s like Mark Twain said, “History doesn’t repeat itself but it does often rhyme”. #WallStreet gets bailed out. #MainStreet gets sold out 2018 remix.

The Bitcoin Twist

Buried inside the Bitcoin Blockchain Genesis block is this time-stamped message from Satoshi: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. What does it mean? Who knows. It may just be a timestamp or it could be social commentary on why a Peer-2-Peer system was and still is needed. What we do know is that now, people have an option. Ten years after the Great Recession, when so many had no other option but to watch their retirements, 401k and savings evaporate overnight (my mama lost roughly 80% of her retirement in the #2008Recession so I am not without my biases) the world has an option. There are these things called cryptocurrencies, from Bitcoin, to Eth, Lite, Dash, Artbytes and CrowdTokens. These “weird”, funky, digitally encrypted things that act like money and smell like currency; were it in electric form. They’re money not created by banks and have no owners nor government allegiances.

So I’m not going to debate the reasons for the #2018Recession or #2020Depression, nor who is to blame. I’ll leave that to the same talking heads who are telling you right now that all is well and the dark clouds on the horizon are really rainbow makers. What I will ask you though is, when this nine-year bull market corrects like the Titanic, what are you going to do with your money?  Are you going to keep it on the fiat ship? Or catch a ride on the new fandangled class of currency rocket ships called cryptos? Cause honestly I’m not sure if they’re rocket ships headed to the moon or simply life rafts that sinking economies have never had.

For more of my thoughts on the #2018Recession, if you haven’t already read these two articles from 2017:

Now that you’re scared shitless (and if you’re not, cool. I’ll be here when denial is over) what can you do to prepare?

  1. Act your wage.
  2. Pay off 90% of your credit cards. Leave a small balance and a recurring bill. They’re less likely to close the account and/or lower your credit limit. If you have it all the way paid off, that’s actually a “bad” thing to credit card companies. #GoFigure.
  3. Pick up a side hustle. Do something to make a little extra $$.
  4. Save the extra income. Literally put it in a jar.
  5. Do not buy a new car or house. In Q3 2019 there will be lots of real estate deals #foreclosures.

#Bonus – Write down a budget. Budgets are like children. When you don’t pay attention to them, don’t be shocked when they grow up to be out of control. Last but not least, diversify, get yourself a TheHodlWallet and and invest locally like DigitalTown.

What am I going to do to prepare? I’m going to get me one of those cushy government bailout jobs at a financial firm in DC or NYC and ride out yet another recession getting fat on a government tit, at your expense. After all, ask Mark Twain, someone has to fight for executive bonuses.

From CNN Money, November 11, 201: Fannie, Freddie execs score $100 million payday

My name is Samson. I’m a human and an anthropologist at Axes and Eggs, a Washington, DC-based think tank who answers your blockchain questions when Google can’t. If you like what you read, share it! If you hate it, drop some knowledge in the comment section below.

Feel free to hit me up on Twitter or Instagram @HustleFundBaby or connect with me onLinkedIn. Finally, I would say thoughts are my own but I probably stole them from a woman. Just ask my mama, I’ve been stealing her brilliance since shortly after we first met.

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