>“The first [measurement] would be an economic collapse. The dollar would be worthless, the yen would be worthless, the mark would be worthless—the dislocation we saw in the Depression of 1930, magnified many times over.
The dollar is not worthless and not close to worthless. There's no reasonable interpretation of that outcome, or of reality, where the dollar becoming worthless was "close" to an accurate prediction. I truly, honestly don't know how to reason with someone who is going to dispute that.
Another prediction was that we would be in an active global military conflict between rich and poor nations. Also not close.
Another prediction was "Africa, from the Sahara to South Africa, becomes unlivable."
If words actually mean things, none of these were close.
> an economic disaster that would render the dollar worthless, causing a depression worse than the one in 1930; a rebellion of the poor against the monied; and a significant number of environmental catastrophes.
Now, you sound like you have a source other than the article, and the article sounds like it might be a paraphrase. But it's kind of hard for me to judge without knowing what your source is.
But, using the wording from the article: Were we close to the first of those in 2008? When Lehman collapsed, if there hadn't been intervention the dominoes would have continued to fall. How far would they have continued to fall? Hard to tell now, but at the time it looked like they were just going to keep falling...
Yes, they were the words of the bet.
>I bet you US$1,000 that in the year 2020, we're not even close to the kind of disaster you describe—a convergence of three disasters: global currency collapse, significant warfare between rich and poor, and environmental disasters of some significant size. We won't even be close. I'll bet on my optimism.
It seems like in the actual terms of the bet Kelly paraphrases Sale. That is how I would read it sans an actual signed legal document. But then again I'm not a lawyer or anyone versed in gambling etiquette and protocol.
Why would anyone take this bet? If you're right, then $1000 USD probably won't be worth very much after the "global currency collapse", so you'd basically be saying "I'll give you $1000 in 2020 if it's worth anything"
The other (perfectly plausible) answer is that the part of one's brain that believes the claim, and the part of ones' brain that believes in the power of bets and value of money that make bets interesting, are brain regions that haven't reconciled with one another.
So ask yourself the question again. Why would two public intellectuals make a public bet, when neither stands to gain any monetary benefit from it? My goodness, it's a mystery.
It would seem to be against the spirit and intention of the bet, in any plausible reading, to grant Sale a win on the grounds that (2) comes true but not (1), when (1) was attempting to paraphrase (2).
In US terms it seems clear that financial support in excess of that available in 2009 onwards will be provided.
Vaccines are being delivered and economic activity will increase as the fear of COVID-19 subsides.
Is this based on political gridlock after the next set of US midterms? Something not COVID-19 related?