“Last week, Janet Yellen told the Senate what everyone wanted to hear: that the Fed would continue to support asset prices. With the ‘Yellen put’ in their pockets, investors bid up the Dow to over 16,000 by the end of the week.  What to make of it?  Although we have no doubt that Fed policies will prove disastrous, we have nothing but doubts about what form the disaster will take. John Williams of ShadowStats.com recalculates the Consumer Price Index, official unemployment rates and GDP figures based on more honest data and alternative methodologies. What he discovers is that the CPI is higher, unemployment is higher and the GDP is lower than the feds would have us believe.”

http://www.bonnerandpartners.com/paddywhacking/

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