I am pleased to report the inflation monster has been captured...

I am pleased to report the inflation monster has been captured and placed in a jar. This stunning announcement as well as an accompanying video detailing the highlights was made by the European Central Bank in cooperation with the national central banks of the euro area. Along with the announcement, the ECB has produced an information kit on inflation enh1d 'Price stability: why is it important for you?' It is targeted at young teenagers and teachers in all the official languages of the European Union. Here is proof the monster was captured:The ECB's eight minute video is actually somewhat entertaining so I recommend that everyone click on the above link take a look. Even though it is entertaining, it sure flops as an educational tool unless of course the goal is self serving promotion by the ECB, for the ECB. Unfortunately the video does not explain that the real source of inflation is printing of money by the central bank itself. Nor does it explain why 2% is such a good inflation target. Finally it does not really explain how prices across the board can be contained by broad brushed practices like setting of short term interest rates. Those things were not explained simply because they can not be explained.