This from the same guy who just called Stocks Fiat.

"Michael Saylor has a drastic opinion. He says when you measure inflation based on something real, like stocks, for 2020, inflation is more like 20%."

So are stocks real or fiat?

I would also claim that you have to adjust that measure for the increase in earnings. If earnings were up 20% and the price was up 20% then inflation was zero. Maybe a better measure would be the change in PE ratio. The one year change in PE ratio was 72%. Certainly we did not see 72% inflation. I think this just points out the idiocy of using stock prices to estimate inflation rates. Stock prices are too strongly driven by the sentiments of the rich to be a useful inflation gage.