I am sorry that I did not make myself more clear. In the late 1970's it was so obvious that just about everyone knew what was going on. Today, this is not the case. For a number of reasons.
I was not clear about the type of inflation I was talking about either. I am thinking of hyperinflation which will require a much more rapid rate today to set it up. We have not reached that stage yet.
It may happen so fast that it is missed, but I still find that hard to believe. I guess I am hard headed in that matter.