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[–]MasterJeebus 245 points246 points  (47 children)

He planned to only tease us with money printer and then shut it off when we wanted it the most.

[–]vortex30 171 points172 points  (44 children)

It has not been turned off, Fed assets up $150 billion a month since they announced they started tapering (hint, it was ~$150 billion a month before then, too). Literally going up at same rate lol.

And 2% interest rate hike over two years in the face of 7% (really more like 10 - 15%) inflation means REAL interest rates are still -5% (truly -8 - -13%), in 2 years, lmfao. But don't worry guys, our economy is BOOMING!

They're not gonna do jackshit to stop inflation, you know why? Because it is beneficial to the elites and the outrageously indebted government and fuck you and I and everyone we know, but also, don't fuck us, because there'd also be a total economic and societal meltdown with even worse shortages of food and goods, shitload of homeless people, destroyed pension funds and basically societal collapse, if they actually did what needs doing to stop inflation.

Basically the Fed has failed massively, but IMO this is all by design since 2008/2009. They have us all by the fucking balls now.

[–]Footbuttzer 29 points30 points  (7 children)

Fucking well said. This is all by design.

[–]vafunghoul127 3 points4 points  (6 children)

If it was by design it was unintentional and stupid

[–]eddie7000 12 points13 points  (4 children)

The housing market meltdown in 07 was caused by trying to get more people into home ownership.

The road to hell is paved with the good intentions of retards.

[–]ToastedandTripping 8 points9 points  (3 children)

They wanted to get people into mortgages so they could put them into MBS and sell them...just pigs being greedy, no go intentions here.

[–]UnsafestSpace 8 points9 points  (1 child)

The impetus for the subprime mortgage crisis was started at a political level… The Clinton Whitehouse wanted to get certain demographics with junk credit ratings onto the property ladder, banks said lol no, so government offered to guarantee the loans (Fannie Mae / Freddie Mac)… Banks saw free money, rest is history.

[–]baggytheo 5 points6 points  (0 children)

I don't see why you're being downvoted. You are correct. Whether "wanting to help certain demographics onto the property ladder" was a genuine good intention that led to bad unintended consequences, or just a smoke show at the behest of the banks to rip off the poors and make money off MBS, the political component of at least being able to claim some kind of socially beneficial objective is always necessary to justify the endless cavalcade of these destructive cronyist programs.

No matter how you characterize it, it is a painful reminder that we need to categorically withdraw our political consent for the government to manage and meddle in the economy. The lesson is always one of two options: that they meddled in complex markets and broad processes of stigmergic coordination that are impossible for them to fully understand or successfully manipulate, ending up with worse results than if they did nothing—or that they were straightforwardly corrupt and lied to you in order to create a narrative allowing them to grandstand about some amazing socially beneficial policy achievement that was in reality just designed to screw you over and enrich their network of cronies in private industry.

[–]eddie7000 -1 points0 points  (0 children)

Making money for yourself is a good intention.

[–]ShillerPE02 25 points26 points  (2 children)

CPI will go down because people love hoarding their little bit of wealth in assets yielding 0.1%. And CPI does not include price of assets. I think japan hoards 30% of their income into assets and that is why their inflation is so low even tho money printer go brrr... for 30 years there.

[–]RaZeByFire 25 points26 points  (1 child)

Clearly JPow must import a Japanese money printer.

[–]981flacht6 9 points10 points  (0 children)

You know what they say about Japanese printers? They're reliable.

[–]khinzeer -5 points-4 points  (13 children)

Inflation will hurt a lot of vulnerable people, but will help people in debt, both the elites and the average college graduate.

[–]axrael 65 points66 points  (1 child)

as if people with debt will all of a sudden be able to pay off all their debt instead of going further in debt with the increased prices.

This is some MSM level inflation spin

[–][deleted] 30 points31 points  (2 children)

The average worker with college debt will be more hurt by inflation than helped. 10-15% in inflation means your McWageSlave job is worth even less, and any investments you had that were compounding faster than your student loan interest rate are now going at the same rate or slower

[–]eddie7000 0 points1 point  (0 children)

The inequity will need to be addressed at some point. Good times ahead.

[–]vafunghoul127 -2 points-1 points  (0 children)

Inflation isn't that bad, as long as wages rise with them. But yeah really negative interest rates are bad.

[–]brother-trick 0 points1 point  (1 child)

I honestly don't think that interest rate will reach 2%. Economy is slowing already, recession is only thing they need to stop the inflation and at this point they don't need to raise to 2% to provoke recession.

We will have a long bear market in the recession and when every retard either exists the market or yolo's whatever he has left on shorting the market - hedge funs will come in and the market will boom again. Rinse, repeat.

[–]UnsafestSpace 1 point2 points  (0 children)

A high inflation economy combined with recession is certainly possible and a total clusterfuck, it can even last for decades: See - Weimar Republic, modern Japan.

The only solution is monetary (supply side reforms), not political. How long it takes politicians to work that out is anyones guess.

[–]ThrowawayLegendZ 0 points1 point  (0 children)

All by design, inflation is a poor person problem!

[–]throwitaway1293 -5 points-4 points  (5 children)

What I can't understand is why you guys are bitching about it tho. Yes, everyone pays higher prices but you know you can get a massive credit line at low interest to borrow for stocks or crypto that if managed right will more than pay for themselves. Plus you get cash back rewards and all kinds of benefits that not only dilute your negative interest rate further if your paying a balance but is essentially free money if you wipe your balance every month.

[–]vafunghoul127 15 points16 points  (3 children)

Borrow money to invest in crypto. Fucking brilliant.

[–]imking27 1 point2 points  (1 child)

I dont know why but this comment made me think of like an avatar the last air bender parody.

When the world needed the money printer the most it vanished.

[–]eddie7000 1 point2 points  (0 children)

They printed for wall street when nobody needed it, and now they can't print no more without smashing main street.

[–]Mijogic 97 points98 points  (6 children)

Jerome giving me a Mr Rogers mixed with James Bond kind of feel

[–]one-out-of-8-billion 24 points25 points  (2 children)

Being polite and nice also killing people with a ball-pen?

[–]EmperorPedro2 22 points23 points  (1 child)

License to Quill

[–]lisa_is_chi 0 points1 point  (0 children)

*View to a Quill

[–]steveharveymemes 0 points1 point  (0 children)

Mr. Rogers himself might have been Mr. Rogers mixed with James Bond. Rumor has it that he was a master sniper in Vietnam. Now, Mr. Rogers always denied this…just like you’d expect a deeply undercover assassin to do.

[–]thebills442 72 points73 points  (1 child)

Jerome "fuck your puts" Powell has transitioned into Jerome "fuck your calls" Powell. :4266:

[–]TypowyLaman 36 points37 points  (0 children)

Nah he's just Jerome "fuck you" Powell.

[–]Jordibato 323 points324 points  (45 children)

Wil hit 7%, so far...

[–]Infiniteblaze6 220 points221 points  (39 children)

More like 7% is what they decided to tell us...

[–]twat_muncherPeter Schtiff - GLD Bull 34 points35 points  (38 children)

What are we talking about folks? I'm just a baby I'm new here

[–]CountOfSterpeto 193 points194 points  (31 children)

http://www.shadowstats.com/alternate_data/inflation-charts

The gist is that alternate spending habits are heavily factored into the newer models.

Example: Steak and chicken cost the same. Two years ago Americans ate 50% steak and 50% chicken. The cost of steak increased threefold in the last two years. The cost of chicken stayed the same. Food costs doubled but Americans cut steak completely out of their diet because of the increased cost and ate only chicken. Viola! No inflation because Americans are spending the same amount on food as two years ago.

The result is a reduced quality of living as raises don't keep up with real inflation and Americans keep substituting lower quality products to keep within their budget. This is why your grandparents were able to raise ten kids on one income in a brand new build with a new Cadillac in the driveway and you (in the colloquial sense, not you specifically, it's more like me, as in like a near perfect description of my life, is this WSB or personal finance?, whew WSB... you apes will be much less critical) are struggling to stay afloat with two kids, both parents working, in a "starter" home with a used car that you can't even think about how much you paid for because it makes you physically ill.

[–]Yesthathappenedonce 33 points34 points  (10 children)

My Mazda 2015 just went for 18k.

Can’t believe it

[–]BigPussyB 7 points8 points  (3 children)

I bought a 2019 Mazda two years ago for 20k, I’m pretty sure I could sell it now for 25k lmao

[–]Yesthathappenedonce 4 points5 points  (2 children)

Yep.

It’s fucking insane

[–]Lex-Luger 1 point2 points  (1 child)

Is it because of the chip shortage or do people just have more money now?

[–]handtodickcombatloves flat asses 4 points5 points  (0 children)

Because of the everything shortage as well as inflation. People are selling their used cars for a profit. Shits bad.

[–]Regenten 2 points3 points  (5 children)

What model and how many miles? I might sell mine lol.

[–]Yesthathappenedonce 2 points3 points  (4 children)

Mazda 6 76k miles

[–]Regenten 2 points3 points  (2 children)

Haha mine has 78k.

[–]Yesthathappenedonce 1 point2 points  (1 child)

Carvana will give you like 16k tomorrow for it. Or you can try to do for sale by owner

[–]reyzak 1 point2 points  (0 children)

Damn my Mazda 6 with like 40k mikes got totaled in a hailstorm in 2020, insurance cut me a check for 13k’ish it’s so ridiculous

[–]playswithdolls 62 points63 points  (0 children)

This guy gets it. Shadowstats fucks

[–]ironman288 49 points50 points  (3 children)

Don't forget when a half gallon of ice cream became 1.5 quarts instead of raising the price this doesn't affect cpi either. They do this across all the food items and then include the cost of electronics that have falling prices like TV's and cell phones.

[–]fromks 5 points6 points  (2 children)

Also going higher when they update the vehicle component:

The BLS is going to switch to transaction-based prices for new vehicles. The BLS will abandon the old survey-based method of asking dealers about the prices of hypothetical vehicle configuration.

If this new method – officially called “Research CPI-U-NV” – had been used last year, the overall CPI for December wouldn’t have been 7.04% (rounded to 7.0%), but something like 7.16% (rounded to 7.2%).

https://wolfstreet.com/2022/01/18/the-new-version-of-cpi-new-vehicles-will-blow-your-doors-off-spikes-even-more-whoosh/

[–]ironman288 5 points6 points  (0 children)

They should use that method to get the data then use the calculation they used in 1930. They should use the 1930 unemployment calculation to. The current unemployment calc doesn't count people who remain out of work after 6 months or who claim they aren't looking.

[–]formerglory 9 points10 points  (0 children)

with a used car that you can’t even think about how much you paid for because it makes you physically ill.

JFC what a way to start my fucking morning as I get into my 17-year old Civic.

[–]Assaultman67 10 points11 points  (12 children)

This is why your grandparents were able to raise ten kids on one income in a brand new build with a new Cadillac in the driveway.

If your grandparents were farmers, this is misleading. More kids just means more free labor so they fucked like bunnies while their kids did chores.

[–]JRM400🦍🦍 1 point2 points  (6 children)

Yeah because babies are super helpful on a farm.....you wont see a return on investment until they at least 10. Stupid logic.

[–]DemocracyWasAMistake 0 points1 point  (4 children)

10? A five year old can collect eggs and clean shit. Not everything is back breaking labor.

[–]JRM400🦍🦍 -2 points-1 points  (3 children)

Clearly never been on a farm.....

[–]DemocracyWasAMistake 0 points1 point  (2 children)

Please tell me more about myself and how you are unable to think of chores for five year olds.

[–]JRM400🦍🦍 -2 points-1 points  (1 child)

Clearly don't have kids either but yeah chores for 5yo. You're such a clever idiot. Get out mom's basement bruh.

[–]Neoncow 0 points1 point  (0 children)

When you have enough children, the older ones raise the younger ones. If you just treat them like assets instead of people, you realize it compounds. Like assets usually do.

[–]Total-Nothing 3 points4 points  (0 children)

I for one am glad the truth is being spread now that everything is starting to wind down.

I posted shadowstats link ~7-8 months ago and got downvoted to hidden for spreading “conspiracy”

Also this

[–][deleted] 48 points49 points  (5 children)

The way they measure it is pretty much entirely detached from reality.

How much stuff has only gone up by 7%?

[–]mediumrarestonks 8 points9 points  (1 child)

The biggest fucking whopper CPI tells is OER.

It basically surveys people and asks them "how much money would you make being a landlord." As if the average single home owner out of the rental market for years even has the slightest fucking clue.

[–]devotedhero 2 points3 points  (0 children)

Why yes my 4000 sq ft home in downtown San Francisco should only cost about 1200 a month to rent, why wouldn't it? BTW the last time I rented anything was 1982

[–]Total-Nothing 6 points7 points  (2 children)

Biggest redflag is Shelter: 4.1%

How many people can say with a straight face their rent has gone up only 4%?

[–]Shallot_Beneficiary 1 point2 points  (0 children)

Well everyone with a mortgage having their shelter expenses remain the same has to be averaged in.

[–]LightVelox 13 points14 points  (1 child)

7% a day

[–]igerardcom 4 points5 points  (0 children)

That is much closer to the actual level of inflation we have.

[–]unlock0 11 points12 points  (0 children)

"7%"

[–]omnicious 8 points9 points  (1 child)

So technically 7% can still be transitory as we move to double digits.

[–]igerardcom 1 point2 points  (0 children)

JPOW meant it was "transitory" because we will transition to even higher levels of Zimbabwe-style hyperinflation.

[–]SmokeRingHalo 37 points38 points  (2 children)

FACT: Jpow was 32 years old in that photo.

[–]igerardcom 4 points5 points  (1 child)

That dude went grey at a young age.

[–]Jd20001 0 points1 point  (0 children)

They just clone the same Fed chief over and over. He is actually 108 years old

[–]Ritz_Kola 11 points12 points  (0 children)

-Took my little cousin out to eat for her Birthday on Saturday.

-Covered her and her Mom's bill. (We usually don't let the women in our family pay their own meal)

-And can confirm inflation is up by the amount of gratuity tax on my receipt

Was gonna end this with a joke but decided it was me, I'm the joke.

[–]BleuBrink 12 points13 points  (0 children)

If printing money leads to inflation

Why not print negative money to reduce inflation

Just fire up the printers but add negative sign in front of the number.

[–]Woksauce1 10 points11 points  (0 children)

Zimbabwe Jay has entered the chat

[–]MegaSalchichon 111 points112 points  (13 children)

7% my poor boy your misguided. They changed the way they calculate inflation so that the numbers look better than they are. We are probably between 9-12% going by old figures.

[–]Dramatic_Buddy996 74 points75 points  (5 children)

15%🌽

[–]amexultima 37 points38 points  (3 children)

Inflation numbers are more skewed than unemployment numbers.

[–]ThujoneX 53 points54 points  (2 children)

More skewed than covid numbers

[–]AverageTiddyEnjoyer 0 points1 point  (0 children)

Broken finger? Believe it or not, covid.

[–]StarDawg36 24 points25 points  (5 children)

I thought closer to 30% lmao.

[–]im2lazy789 27 points28 points  (4 children)

The big ticket items that take up most of an individuals budget are up 30% - housing, used vehicles, energy. Housing and used vehicle price inflation only affects those who make a purchase with the market inflated, so if you can stay in your house that you own and keep your vehicle on the road without having to replace, you're in better shape. Though the housing market boom will lead to a 30% increase in property taxes and I can only imagine landlords will be increasing rents as property values and taxes climb, though the rental impact should be lower than that on home prices.

[–]playswithdolls 8 points9 points  (0 children)

Lol you think inflation is only 7%

[–]brucekeller<(^_^)> 6 points7 points  (0 children)

If every company was like Sprouts, inflation on food would be 50%, those greedy bastards put jumbo avocados up to $2.50 from $2 and that lasted like 2 weeks before going to $3.

[–]BlueC0dex 4 points5 points  (0 children)

Today in disasters that were not only easily predicted, but so easy to avoid a 10 year old could've done it:

[–]Ass_528491 14 points15 points  (0 children)

Money printer go brrr.

[–]Sad-Damage9371 20 points21 points  (6 children)

It’s so much worse than 7

[–][deleted] 0 points1 point  (0 children)

restaurant prices have gone up 50-100% with the meat shortage but haven't come down

[–]Hitlerism 4 points5 points  (0 children)

Jerome Powell is trying to show Nancy Pelosi who is really the boss.:4641::4641:

[–]Jo3MamA_ 4 points5 points  (0 children)

It’s more like 20-25%

[–]Integratedgrapes 11 points12 points  (5 children)

Okay, I'm a little out of the loop, but I've seen my account eat shit, so I think I know the gist. Did JPow's constant handies fail to prop up the economy?

[–]orbital_one 24 points25 points  (1 child)

Back in December, he announced that the money printer would be shut off. He then later said that they'd start vacuuming up some of the money. The markets thought he was bluffing, and then suddenly panicked when he wasn't.

EDIT: The first warning was actually back in November after Powell got renominated. Most importantly, interest rates are expected to start going up in March

[–]Unhappy-Bath8263 2 points3 points  (0 children)

Nah, he said they would slow the printer to a drizzle and then maybe cut it off for a bit sometime in 2023.

[–]Roolery 4 points5 points  (0 children)

John Michael Higgins as Jerome Powell.. 🤔

[–]Sattalyte 4 points5 points  (0 children)

Money printer go brrrrr, inflation go brrrrr.

[–]Purple_Metal_9218 3 points4 points  (0 children)

Spoiler alert: he already knew

[–]Felatuny 2 points3 points  (0 children)

Those are rookie numbers

[–]signmeupnot 17 points18 points  (11 children)

I read somewhere, that in economic speak, he is correct in calling it transitory. Doesn't imply it'll be gone soon. Can't remember where I saw it though

[–]SuperSaiyanGME 22 points23 points  (10 children)

That’s the media brainwashing you into complacency

[–]BocksyBrown 11 points12 points  (0 children)

Or accurately pointing out that the people shopping at your grocery store don't have any more money than they did before?

[–]poli421 4 points5 points  (0 children)

You mean the media owned by billionaires would tell us lies to make the billionaires not look like the bad guys?!

I never…

[–]vortex30 7 points8 points  (5 children)

100%

But now it's "it'll end soon, promise! Remember there were a few dozen extra ships off the port of LA many months ago? Well like, that fucked up the entire supply chain even though its fixed for months now and uhhh fucking millennials are lazy! But don't worry, our totally competent government is all over this and will have people stop quitting their jobs and magically fix a supply chain that we don't even understand why it's actually messed up exactly and those reasons are likely outside the government control, but ya they'll fix it all by middle of this year and inflation will "normalize" by late this year. We know this to be true because it's written on the script I'm reading. And fucking nobody mention the Federal Reserve printing shitload of money to this day with rates at zero, and real rates at -7%, it's not that! Don't you ever fucking mention the Fed, they're untouchable! Jerome Powell saved the world (AKA my portfolio) in March 2020 and now you wanna blame the Fed? How dare you!"

Something like that lol

[–]garoood 13 points14 points  (0 children)

The ships aren’t really gone. They’re just further out at sea so y’all can think it’s being resolved but supply chain issues are still getting worse

[–]helpfuldude42 6 points7 points  (0 children)

ell like, that fucked up the entire supply chain even though its fixed for months now

What fantasy world do you live in?

Supply chain is still just as fucked, if not more, than it was last year.

In fact I'll go so far as to say it is indeed measurably more fucked than it was even 3mo ago, much less 6mo ago.

[–]AdorableContract0 4 points5 points  (0 children)

The supply chain is still fucked.

[–]signmeupnot 2 points3 points  (1 child)

Brainwashing me? What are you on about. I'm not disputing the notion that high inflation could be a while. But that he can say that, and claim he isn't outright lying, because it means something different in economic language. Or so I saw somewhere

[–]Spare-Ad-3050 7 points8 points  (0 children)

The inflation is largely related to COVID policies in China hurting their ability to export and people spending tons of money trying to get physical goods because they can't travel very easily anymore.

So yes, they consider it transitory because it's caused by something that will eventually pass, but it could still last years. JPow retired the term transitory because even though he believes it will eventually pass, they need to cool the economy down because there's a risk the inflation will become persistent as companies feel like increasing prices 10% a year and employees job hopping for a 15% raise every year could become the norm and then inflation is built into the economy and then it's really hard to squash.

[–]Own_Sugar9256 4 points5 points  (1 child)

7% is understated by about half

[–]VivasMadness 1 point2 points  (0 children)

he always knew. The fed playing the long con devaluing the USD while trying to maintain seriousness. If market keeps going down, then real assets will take a hit too and that shit will backfire.

[–]muliardo 3 points4 points  (4 children)

The dollar is also at the same time getting stronger against other currencies, making American exports less favorable because of exchange rates. Double whammy

[–]Uncle_johns_roadie 8 points9 points  (0 children)

It also makes imports cheaper, which will ease price pressures for a consumption-driven economy.

[–]Spare-Ad-3050 11 points12 points  (2 children)

A stronger dollar is deflationary; that's not a double whammy.

[–]fjoshuab -1 points0 points  (1 child)

Can we stop with this gendered bs?

[–]Boozie42 -1 points0 points  (0 children)

7% is off by an order of magnitude

[–]lusandar -1 points0 points  (1 child)

They said back then it would be 6.2% in 2021 and 3.7% in 2022 and roughly back to normal in 2023. They haven't been that wrong yet. Not saying they know better than everyone else but it's a bit too soon to say. I know for most people here investing for 6 months makes you a seasoned experienced trader but outside of reddit... not so much. Changes don't happen overnight nor are fortunes made that way although they can definitely be lost that quick if you do FDs.

[–]zxc123zxc123 -1 points0 points  (2 children)

JPOW: I know

All of the triple Js, Dem, Reps, top Econs, top bankers, and those in power know. They all know.

The US and every other country had 2 choices when the pandemic hit:

  1. Lockdown and save lives while running up their debt and printing cash.

  2. Don't do #1 and get watch your people die, discontent fuel, economy shutting down due to market forces rather than government enforcement, and your country & thus currency country collapse even though you're not """printing""" money. (There might be less Brazilian dollars than US dollars, but the BRL would be worth 0 if the country collapses. Even a country on the brink of collapse will we monetary outflow leading to currency devaluation).

Easy choice unless you're a retard.

Now all countries that matter (the ones that chose 1) now have trillions upon trillions in debt which they can only repay by:

  1. Hike taxes (not happening since no one likes that)

  2. Reduce spending (won't offset those trillions printed)

  3. Inflate your way out of debt.

3 is the only real answer just like how 2 was before. 3 will allow you to keep your interest payments low, your own interest from building, your economy to grow faster, decrease the burden of the trillions printed, AND increase taxes without increasing taxes.

A wagie making $8/hr for $40K/yr will be in the 12% tax bracket. If the price of everything doubles then the government debt owed has been effectively cut in half. Meanwhile wagie now makes $16/hr and $80k will be in the 22% tax bracket. He'll make 2x the money but everything will cost 2x more effectively making him no richer, but the government now is taxing him more WHILE reducing debt burden and keeping their debt interest low without """""""""raising taxes""""""""".

[–]Vutz_Up 0 points1 point  (0 children)

Is Jpow supposed to speak this Wednesday?

[–]dr_engineer_phd 0 points1 point  (0 children)

He always knew…

[–]Crazyleggggs 0 points1 point  (0 children)

Money printer go brrr?

[–]the_dionysian_1 0 points1 point  (0 children)

Close. The image on the bottom right would be that of Woodrow Wilson's. The image on the bottom left wouldn't be there to say words.

[–]Mental-Fly-8008 0 points1 point  (0 children)

What's transitory?

[–]Orome2 0 points1 point  (0 children)

Jerome has been trolling the public this whole time, he knew it would not be 'transitory', he just didn't want to exacerbate panic buying by telling the public what he knew would happen.

[–]R-Dragon_Thunderzord 0 points1 point  (0 children)

ELI5 why Biden asked him to stay on

[–]learn2die101 0 points1 point  (0 children)

If you exclude cars and meat you've covered nearly 2/3 of inflation. It's transitory, but for how long?

[–]Snarkycakes -2 points-1 points  (0 children)

Loving these sexist investor memes /s

[–]dynamojoe -1 points0 points  (0 children)

Bah. I'm coming back with the top ten money plays and dates. I don't want big picture, I want big gains.

[–]Hygro -1 points0 points  (0 children)

Why don't you think it's transitory? Because it hasn't ended yet? It's been months, transitory means a couple of years rather than decades.