Back to a Grind

The VIX is at 17.  The market volatility is getting sucked out.  With central bank backstops, the complacency builds momentum and we will grind higher.  The longer the Fed waits to do QE3, the longer the grind.  But eager beaver Bernanke can't stay still, he's got the itchiest trigger finger among the central bankers.  He will shoot money bullets at the slightest signs of weakness.  And keep shooting until he's replaced.  Draghi is Bernanke Light, less filling but made from the same stuff.  Mad money printers are taking over the world, giving governments a free pass to spend by artificially lowering their interest rates, and it will not stop until inflation gets out of control.  We are not at that point yet, but it will happen within the next few years.  Prepare for a grind the next few weeks.  It will get tedious and I will just wait to strike when it gets close to a breaking point.