Has the inflation monster really been captured?

The European Central Bank claims to have captured the inflation monster. No chance, says Mike Shedlock in the Daily Reckoning. For a start, inflation is merely an increase in the money supply - and central banks are the main culprits when it comes to that. All they can do is make the inevitable credit crunch much worse...

I am pleased to report that 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 entitled '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.

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