Nope. Too much credit destruction, money velocity sinking below 1, more asset deflation. Alt-A and Option ARM resets out the wazoo starting this summer, not to mention a CRE debacle, will overwhelm everything.
Besides - inflation is not the rise in just a few prices, it’s a general rise in prices.
Credit card defaults are up and rising as to added further pressure to tighten credit even further.
I choose not to argue one's definitions and opinions....I just know what I am seeing. I also know, the goobermint is not telling what is really going on as they continually release massaged / deceptive information regarding the economy.