These are always a terrible idea but I've succumbed to worse terrible ideas. I don't know my geldings from my greens and, accordingly, I've never placed a serious bet on the outcome of a few galloping nags. If the bookies have the odds at ten to one, but you think the probability is only nine to one, you take the bet. If you took this bet ninety times at a dollar, your horse would come in ten times. The prospects of a recession worse than 2008 are low, but it is a lot higher than zero, which is what a casual reader of the business media would assume.

Source: Stuff December 28, 2019 16:00 UTC