Investors are avoid ten years of a 1.5% Fed tax

Paul Krugman flicked at a point 

The recent rise in the market has been largely driven by a small number of technology giants. And the market values of these companies have very little to do with their current profits, let alone the state of the economy in general. Instead, they’re all about investor perceptions of the fairly distant future.

Kevin Drum allowing himself the half story by Krugman.

What we see is the failure to can kick. Investors just finished ten years of Fed taxes and now they are facing another ten years of double Fed taxes, and they are avoiding them.  This all started in early 2018, well before covid.

Who will pay the seigniorage taxes, Kevin?  Your readers, most of whom are lower and middle class, and the Fed taxes end up as service fees, higher rates, tighter money, and ATM fees.  Your readers are getting ripped off because Paul does not tell the whole truth. So your readers have no future as they are being kicked out of banking. 

Now they are being defrauded  about a massive federal bailout of California pensions. This can does not kick. Maybe an extension of unemployment benefits, but as far as the big stimulus and bailouts? No, the cost is too great. This can will not kick anymore.