Former Chairman of the Board of Honeywell International, and CEO of Allied Signal, Larry Bossidy was on CNBC's Squawk Box this morning. He made a comment that I found to be pretty ignorant. He said, and I quote;

'There is no inflation out there. This inflation thing came up over the last two weeks."

No, Larry, you mean they finally admitted we have an inflation problem over the last two weeks.

Now we can all say that Larry's comment was pretty stupid, but in his defense, he just does not know any better.

See, Larry is not one of the "little people". He is rich, and among the elite. He lives in a rich neighborhood, and all of his friends are rich. The Rich are not impacted by inflation the same way the average working person is. When you have $100-$200 million in the bank, do you really care if gas is $2.90 a gallon? I don't think so.

I'll bet Larry is not running out to buy a Toyota Prius to cut his monthly gas expenses.

You will not find Larry or his wife walking up and down the isles of Wal-Mart trying to pinch a penny. So in Larry's eyes there is no inflation, and if you little people have a problem with that, it痴 your tough luck.

We all are not as fortunate as Larry Bossidy. We were not given millions in stock grants and options. We were not able to jump ship and retire after the company of which he was CEO (AlliedSignal) merged with Honeywell in December, 1999. We were not able to spend only 4 months as CEO of Honeywell after the merger and Para shoot out with millions.

Here's Larry's retirement benefits;-Source

"CEOs seem to have a hard time saying no to one another. In the case of Honeywell, the compensation committee, headed by a former CEO, paid out coming and going. First former CEO Lawrence Bossidy was entitled to a $4 million annual retirement benefit. Also Mr. Bossidy will be entitled to life-time access to or use of Honeywell facilities and services comparable to those provided to him prior to retirement, including limited use of company aircraft, use of car with driver, security services, financial and tax planning services, and office space, services and administrative support."

So there is no inflation huh, Larry?

Tell that to the dental hygienist with 2 kids who is fighting to pay the rent and her monthly gas bill. Tell that to the millions of Americans who have no health insurance. Tell that to the millions who are staying in their dead end jobs just to have health insurance. Tell that to the 4,500 people who lost their jobs after Honeywell bought AlliedSignal.-Read Article.

So, there's no inflation Larry? Give me a break!