Pento is exactly right on. Anyone who believes inflation is tame and in check better think twice...... Michael Pento, chief economist at Delta Global Advisors, has a more fundamental critique of the coverage: "Why would anybody listen to this guy in the first place?," Pento wonders. "[Bernanke] told us the recession wasn't even going to occur. He was very slow to reduce interest rates and now very very slow to raise them. So I wouldn't put any credence in anything he does, at all." <object width="292" height="219"><embed height="219" width="292" allowscriptaccess="always" src="http://cosmos.bcst.yahoo.com/up/fop/embedflv/swf/fop_wrapper.swf?id=15578214&autoStart=0&prepanelEnable=1&infopanelEnable=1&carouselEnable=0" type="application/x-shockwave-flash"></embed></object>
How can anyone make the stupid comment that Bernanke was slow to lower rates? Did we already forget the 75bps cuts followed by another 50bps right away? Horseshit, I says!