The article seems wrong on the sporting example - if 49ers win, then you have invested $20 and obtained only $10*4/3 in return. I think the article does have a

The article seems wrong on the sporting example - if 49ers win, then you have invested $20 and obtained only $10*4/3 in return. I think the article does have a point. To my limited understanding, the false distinction between "insurance" and "credit default options" and the illusion that "they could get away with it" was crucial in the financial meltdown of 2007-09. Things have reached a point where even people who have Ph. D in mathematics or science hardly know how to invest their money. I think financial literacy should be considered one of the basic necessities of existence in a capitalist society, and activists should launch public information campaigns to educate the vulnerable public. But some of the remarks are overboard - the fact that credit means debt, I think, goes all the way back to double-entry book keeping. I think this hardly counts as jargon, any more than the word debt itself.