Stephen Kinsella: Bet on it - the house will always win

Stephen Kinsella: Bet on it - the house will always win
The New York Stock Exchange on August 26, after six days of market chaos had erased $2.1 trillion of value from US stocks. Picture: Getty

We are in for a period of low growth, low inflation and low yield for some time to come

Writing in the 1990s, economists could credibly buttonhole ‘financial intermediaries’ into simple categories: banks, pension funds, insurance companies and ‘other’, where ‘other’ included hedge funds, venture capitalists and a few other specialised money management services.

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