The whole "falling inflation" meme, spreading all over traditional media, is a huge astroturf.

Inflation at 6-something percent might be a bit lower than 9 percent, but it is 3 times higher than normal, and Fed targets. It's like slowing down from 90 mph to 65 mph in a residential neighborhood with kids around -- you're still deep in the danger zone.

The other part is people's lack of understanding that even if inflation is dropping, prices are rising. And at 6 percent, they are rising fast, starting from a base of record-high prices.