David Rosenberg and others would agree with you. Again, remember, what kind of inflation are we talking about? The monetary driven hard asset inflation? Or the headline, core (8 kinds of) or CPI/PPI? There is a difference. I look at hard asset inflation. Look at stocks below as well – soaring, real estate rearing quietly? Well, even the Government reported inflation rates are showing increases month over month both in US and in Canada. The actual rates are still soaring (did you go shopping lately, eat in a restaurant, look for a rental, pay gas, buy  a car?). The stock markets are soaring– say inflating. 

Note: Victor Adair (https://victoradair.ca/subscribe/) writes in its incredibly accurate newsletter (still free) that the Euro Stoxx 50 (a European version of the DJIA) has rallied ~20% to 23-year highs. The Japanese Nikkei is up ~27%, just a few points away from touching the All-Time Highs made in 1989. The Toronto Composite Index closed this week at a 22-month high, up ~17% from the October lows, and in the US the DJIA, S&P and the NAZ made new All-Time Highs this week but closed lower on the weekly charts.

NOTE: I grant you; it is confusing. Large TECH cos layoffs muddy the waters indeed. We stick with our multi year predictions. All the money creation will result in higher asset prices. But we must ‘muddle through’ first.