3 ms·

What good is a bet you won't be able to collect on if it happens?

• simianwords 7mo ago
  Why can't I collect on it?
  • ceejayoz 7mo ago
    Betting on systemic collapse of society has a challenge at the winnings collection point. "Here's your trillion dollars. Go buy a slice of bread. Ooops… half slice. Well, quarter."
    • simianwords 7mo ago
      huh? he can just short the companies he's so concerned about
      • vrganj 7mo ago
        What good is that if the entire socioeconomic system collapses?
        • simianwords 7mo ago
          by shorting he can make money and give it back?
          • ceejayoz 7mo ago
            Yeah, except the money you made is now worthless. https://en.wikipedia.org/wiki/Zimbabwean_one_hundred_trillion_dollar_note https://en.wikipedia.org/wiki/Zimbabwean_one_hundred_trillio...
            • simianwords 7mo ago
              That’s not what would happen if he shorts it. It would be like 2008 recession where people did make money. In fact shorting is the moral thing to do now because it nudges towards bankruptcy faster
              • reverius42 7mo ago
                Unfortunately the market can stay irrational longer than you* can stay solvent. * For most definitions of "you"