"What is good? All that heightens the feeling of power, the will to power, power itself. What is bad? All that is born of weakness.What is happiness? The feeling that power is growing, that resistance is overcome.There are no facts, only interpretations."Friedrich Nietzsche
The Lady Yellen wishes to have the Fed study inequality, so that they can understand the causes of it.
This is a euphemism for getting ahead of the subject, and taking an uncomfortable set of facts and dragging them back into the fog of economic obfuscation and the credibility trap.
The best way to manage a problem you caused is to offer to fix it. You have to control the solutions, and even better, the very definition of the problems.
We will have the Non-Farm Payrolls tomorrow. I will expand a bit more on this in the gold and silver commentary, but I would not be surprised to see the usual Washington two-step, where they revise past months lower to make the headline look better, essentially 'rolling' jobs forward from the past. No one really cares about the past.
And when things get bad enough, you can go back years and revise the numbers, essentially wiping the board clean and setting the numbers up as you like.
There is no sustainable recovery, and the US is most likely already fallen back into recession. But this is not the time to let that little fact be known.
Have a pleasant evening.
