For many years, decades even, I’ve written about how all the tax tricks targeted for giant corporations and rich investors, government subsidies and tax avoidance loopholes, marketplace protections, fiscal + monetary stimulus have created a Bubble-Blowing Bull Market environment that has long artificially juiced investor gains.

Here’s an example from October 20, 2014:

The markets and the Fed, Fed, Fed

My analysis points to more economic improvement, even for employment and Main Street in months ahead and inflation at the grocery store accelerating — though I don’t think that means the Fed’s going to react to those realities anytime soon.

With continued cheap money for corporations, margin-enhancing policies from the government at all levels and 0% rates still forcing savers into risk assets etc, I expect we still have more bubble-blowing bull market ahead of us. By the time the Fed finally acts to ‘tighten,’ the bubbles will likely be