The Rising Influence of Rising Affluence

[DewDiligence]

Banks are having a hard time making money:

http://www.wsj.com/articles/future-of-banking-looks-darkwhy-thats-a-problem-1476292425

An industry that can’t earn more than its cost of capital is an industry destined to shrink. This matters to more than just the banks and their shareholders. When central banks ease the supply of credit, they rely on banks to transmit the benefits to the broader economy by making loans, handling trades and moving money between people, companies and countries. Shrinking, unprofitable banks hobble that transmission channel.

I don’t own any bank stocks and haven’t for some time.