So, I am watching CNBC Fast Money today, and once again, the whole first segment is about the Taper. Which, if you watch any other program on there or Bloomberg, pick up a newspaper or go to any business website, is all they talk about.
The Taper, but anyone who doesn't know (if that is even possible) is when the Federal Reserve slows (tapers) the amount of bond buying it is doing, that is, buys less than the $85 billion that it has been doing for some months now.
I suppose this is an important piece of economic news. But, really, is it necessary to discuss all day long on every program, including my fave Fast Money? Does it dominate all other news, so that stocks only move based on how the market is reading the Fed tea leaves that day? No, it doesn't.
It's boring. Boring. Boring.
Just my opinion.