%% Good thinking points ; good traders/investors know how to change.[I think the Japanese central bank does own a lot of ETFs/front page IBD article ] Good rule of logic on your change, HB
I really was exaggerating a bit, but I do know that the Fed will start accumulating more ETF's as time goes by. Japan and Brazil are both doing the same to subordinate allies, i.e - accumulating more and more ETF's as time goes by. Another rate cut is also very likely, as I mentioned earlier in a post that, "2020 does not look like a year for all-time highs". Since mid year of 2018, the Fed has been pumping liquidity into the markets using what's now known as "Not QE". They have always wanted a vertical line from the bottom left, to the top right corner, never letting the country's economy contract on it's own. Now, we are going to go to NEGATIVE rates like europe (which is doing pretty terrible by the way), all while we are considered the lender of last resort for countries that compile debt easily. All in all, the Fed is always to blame, because they are involved in some way or form.
Kinda like giving a big tax cut (especially to those who don't need it and will just stash it away) when things are fine.
%% Mostly right, Mr HB. Also right=US stock markets were uptrending 100 years before FED was Formed .Thanks.[Source Stock Market 200 year UP trend chart , book; How To Make Money in Stocks/William O Neil]