this is gown to be reversed or this is putin s fault or anything has really got no sound economic ground to stand on. paul: well, but if you look at the financial markets, how they responded this week to the inflation numbers, there was a lot of commentary and even some suggestion in the pricing that they think this is peak inflation in march, that it s not going to continue to go up. you disagree with that? yeah, i totally disagree with that and don t forget the producer price index or the wholesale price index came out the next day and killed that a thought, right? [laughter] but if you go back and look at the consumer price index, i actually saw it as much worse news than i expected in the whole sort of inflation space. and the reason is this: that you remember at the beginning the white house was responding to the higher inflation by saying, well, sure, but if you take out gasoline and tomatoes and used cars and this and that, then the number was actually pretty good, right? and