Final Word from Wednesday, January 5, 2022

Elizabeth Holmes told the court that investors weren't interested in today or tomorrow or next month and that she wanted to talk about what her company could do "a year from now, five years from now, 10 years from now." You know, it was just transitional fraud, until the technology started to work. Like inflation, which was "transitory" for most of last year, until central bankers decided to admit that it wasn't going away. CNB Gov. Jiří Rusnok was still calling inflation "temporary" on Sept. 20. Then there's quantitative easing, which has been temporary for more than a decade (since Nov. 2013 in the CR) and which has the entire western financial world in a state of permanent anticipation. Now we have transitional nuclear power, although Industry Min. Jozef Síkela insists that such taxonomy is discriminatory and simply cannot be. Energy Envoy Václav Bartuška expects this temporariness also to become permanent, but this is one time transitional probably does mean just that. [ Czech Republic Czech National Bank devaluation revaluation intervention Federal Reserve ECB ]

Glossary of difficult words

transitional - relating to or characteristic of a process or period of changing from one state or condition to another;

transitory - not permanent;

taxonomy - a scheme of classification; the EU taxonomy is a classification system establishing a list of environmentally sustainable economic activities.

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