Recently, a seminal STIRAP experiment allowed the creation of 40K-87Rb
molecules in the rovibrational ground state [K.-K. Ni et al., Science 322, 231
(2008)]. In order to describe such a polarized dipolar Fermi gas in the
hydrodynamic regime, we work out a variational time-dependent Hartree-Fock
approach. With this we calculate dynamical properties of such a system as, for
instance, the frequencies of the low-lying excitations and the time-of-flight
expansion. We find that the dipole-dipole interaction induces anisotropic
breathing oscillations in momentum space. In addition, after release from the
trap, the momentum distribution becomes asymptotically isotropic, while the
particle density becomes anisotropic