Yellen ‘Greatly’ Concerned by Widening Inequality in America
presumably she had nothing better to talk about today
(she should tell us something we don't already know, and does n't talk about every other wk)
maybe where the Dow and S+P will be at the end of next yr 
this could narrow the gap
Why Nations (and organizations) Fail: Self-Serving Elites
The book Why Nations Fail: The Origins of Power, Prosperity, and Poverty neatly summarizes why nations fail in a few lines:
(A nation) is poor precisely because it has been ruled by a narrow elite that has organized society for their own benefit at the expense of the vast mass of people. Political power has been narrowly concentrated, and has been used to create great wealth for those who possess it.
Sound like any countries you know? Perhaps we should flip this question around and ask: how many nations don't fit this profile?
I submit that this dynamic of failure--the concentrated power and wealth of self-serving elites-- is scale-invariant, meaning that it is equally true of communities, towns, cities, states, nations and empires alike: all fail when they're run for the benefit of a narrow elite.
There is a bitter irony in the ease with which American pundits discern this dynamic in developing-world kleptocracies while ignoring the same dynamic in America. One would imagine it would be easier to see the elites-inevitably-cause-failure in one's home country, but the pundits by and large are members of the Clerisy Upper Caste, well-paid functionaries, apparatchiks, lackeys, factotums, toadies, sycophants and apologists for the very elites that are leading America down the path of systemic failure as the ontological consequence of their self-serving consolidation of wealth and power.
For those who doubt that America is ruled by a narrow elite: I don't have charts for standard-issue third-world kleptocracies, but I doubt the concentration of wealth and political power is much more extreme than in America:
In a simulacrum democracy where the highest bidders control the state, who do you think can readily buy political power?
And the policies of the elites have really spread the prosperity around in the past few years (sarcasm-off):
What's truly interesting about the authors' exhaustive survey of the inevitability of failure in elite-dominated nations is how cities dominated by narrow elites fail, states controlled by narrow elites fail, and indeed, any organization that serves the interests of a few at the expense of the many fails for the same reasons.
Yellen is concerned only about hidden ways of continuing the QE. The rest is all "eat cakes" kind of talk. She could not care less about the inequality. All she cares about is to do what she has been ordered to do
She could not care less about us. When a FED official cares about us it means just one thing : that they have no idea what is going on and that they have no idea what to do with their jobs. A bunch of morons
Oh, but she do care 
As long as she is able to manipulate the medias to present her as someone that does something (anything). Once when in articles they start calling her Janet, you shall see the "care about us" thingy
While Yellen Is Stumped By Inequality, Maserati October Sales Soar By 97%
Spot the free-money, wealth-effect-pumping, inequality-driven difference...
GM sold 226,819 vehicles in October 2014,just 417 more vehicles than it sold in October 2013 (+0.18%)
Maserati saw 97 percent sales gain posted in October, compared with same month one year ago“The U.S. economy has steadily improved all year and now we are poised for a stronger expansion backed by an improved job market, higher consumer confidence and lower fuel prices,”
* * *"Reflecting the broader appeal and versatility of the expanded model range and its exceptional performance and style, Maserati has recorded its best October ever," says Peter Grady, President & CEO of Maserati North America, Inc.
If only those poor people were rich asset-owners...
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Janet Yellen thrust the Federal Reserve into the debate on inequality in America, deploring what she said were the biggest increases in disparities of wealth and incomes since the 19th century.
“The past few decades of widening inequality can be summed up as significant income and wealth gains for those at the very top and stagnant living standards for the majority,” Fed Chair Yellen said today in a speech in Boston. “It is appropriate to ask whether this trend is compatible with values rooted in our nation’s history.”
Yellen has often spoken about need to keep holding interest rates at zero, where they have been since 2008, to put more Americans back to work. While she didn’t talk about the economic outlook or monetary policy, the comments reflect her concern over the lingering hardship caused by the 18-month recession that ended in June 2009.
“Inequality is not a natural territory for the Fed so it’s interesting to see Yellen is focused on that,” said Thomas Costerg, an economist at Standard Chartered Plc in New York. “She has an inclination to help the last guy out there who’s unemployed, and she’s clearly going to do all she can do. There’s a strong view that the Fed can help.”
Yellen, 68, cited the Fed’s Survey of Consumer Finances, which shows that the lower half of U.S. households by wealth held 1 percent of the total last year, while the wealthiest 5 percent held 63 percent.
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