Europe Asks China for Help Because of 2.0 Percent Inflation Superstition

The Washington Post reported on the bizarre situation in which the relatively rich European Union is asking China, a relatively poor country, with assistance in its bailout package. It would have been appropriate to remind readers that the only reason that Europe needs help from anyone is that the people running the European Central Bank (ECB) are part of a bizarre cult that worships a 2.0 percent inflation target.

If the ECB was managed in the same way as central banks have been managed...