CNBC's Insana Looks At Charts, Denies Reality

Ron Insana didn't just make a "no inflation" call, he got all pompous like in the faces of "inflationistas".

I will make a bet with this country's leading inflationistas, who continue to warn that inflation is about to surge, that they are dead wrong. 

I'll bet a truckload of scarce limes, or a couple bushels of wheat, that inflation is about to fall, and fall hard.

I don't buy his argument because it's not a very good one.  Corn and soy futures are down?  So what.  This has no bearing on whether your chicken or corn flakes prices are going to be lower in the future.  Supply and demand dictate prices, not input costs.

Beyond that prices are just simply going up.  That's inflation.  Mars, maker of M&Ms and much else that is chocolatey, is raising its prices 7%.  Chipotle - menu prices up 6.5%.  Starbucks - bagged coffee up, drinks up, multiple times.  General food prices (i.e. beef, pork, chicken, eggs, milk) are rising a lot.

Services too.  Netflix raised its prices.  Amazon raised them for Prime.  Electricity - don't get me started on phony baloney energy like wind and solar - is going up.  Home prices...up.  Stamps...up.  Health insurance...up (sorry ObamaCarebots).

We are well past the crapify stage, the first stage of inflation, and getting deeper into the outright price increase phase.  We will shortly come to the constant (semi-annual, annual) price rise phase. 

And all the wage/input-push people, like Insana, will be proven wrong again.