The Lessons of History, page-7

banks will not benefit from anything in a deflationary environment. they will get crushed, as they merge to protect their hot little bottoms.
blame it on the SM though, and the cavalier approach FMs have to investing Joe 6paks nest egg. when we look at gambling figures we should include SM investing.
Gambling is when you place your money somewhere that will have an unpredictable effect on it. So your super, boys and girls is the hands of a snotty nosed graduate of a business college who didnt have the brains to study mathematics or physics.
also blame our government for propping up the Housing market to unsustainable levels. very cavalier. thank them for their corporate welfare. ie. if you took out a health insurance policy, if you were gullible enough, your money was used as gambling chips in the SM. the government promoted this scheme bby giving you money back if you signed up. effectively, the gov itself has created its own health insurance bomb, due to lack of regulation and corporate welfare. insurance money, that you invest to in case you become seriously ill should be invested in bonds, period.
in 10 years time we might get some settling of the current financial calamity at hand.