I think that consensus is very fractured, but setting that aside -- has the "it's transitory" consensus made any concrete predictions? Have they been holding up so far?
I just look at housing prices as the input to a low pass filter with a 10-year pole, whose output is shelter costs, and I see the input is up tens of percent and the output is up 4ish percent, and that is enough to tell me we'll have a major inflation driver for ten years. Larry Summers says the same thing, so I'm pretty confident in my own predictions.
