Slow Movements

If the FED announces a plan to reduce their balance sheet, it will happen so slowly, it will not conclude in our lifetimes. The massive quantity of mortgages, bonds, and stocks owned by the FED cannot be quickly eliminated. Who could buy it all?

Also, it is more like a lake fed by a river. They may dig out part of the lake to allow assets to escape, but new assets will quickly take their place. And the beat goes on.

Today's announcement is another attempt to tickle our ears. If we like what we hear, they can profit from the game for a little longer. And the beat goes on.

If a snail could plan a trip across town, Would it survive the attempt?

Here is today's beauty.