Horizon Kinetics' Murray Stahl has spoken early and often about concerns over inflation - and no less recently, as the government's money creation has "taken on a historically monumental character." In Horizon's Q2 market commentary, Stahl acknowledges he's swimming against a tide by saying inflation is "already here" - explaining that the low CPI is all about how it's weighted, and asking his audiences which prices have gone down for them, aside from computers (which "haven't gone down that much"). Insurance and property taxes continue to go up and by more than 2% in general; "How about lawyers ... How about doctors? Are those bills down?" Those data lead him to expect "a commodity cycle the likes of which has never been seen before and I do not think it is going to be quick. I think it could last for 40 years." When it comes to oil, the severe
