While Fed chairman Ben Bernanke has gone into total denial about the looming inflation, the ultimate insider (including a stint on the Plunge Protection Team), Philippa Malmgren, is telling it like it is.
"We've got inflation ripping through the emerging markets. That's going to push input costs up for the entire Western manufacturing establishment," Malngren told CNBC.
"I think it's the single most important issue that we face in the markets today," she said.
Malmgren is as straight a shooter as you are going to get from within the world of insiders. She knows what is coming down the road as far as inflation and doesn't want to have egg all over her face by pretending things are otherwise.
Gee, inflation? Really? Silver only went up $3 in the last two days. That makes for an increase of over 55% in one year.
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