Not a bang, but a offhand comment from a WaPo Blogger
That’s better than no inflation, but it’s well below the Federal Reserve’s target of 2 percent
What is notable about this is that Klein doesn’t seem to think he needs to tell his readers why some inflation is better than no inflation nor why more would be even better.
I point this out because it can be emotionally deflating. It feels like there should be some sort of climax but there is no climax. Indeed, victory is characterized by its utter lack of drama. In this world you win when everyone forgets about you. When they no longer consider your argument something worth arguing about.
We are obviously not there yet. When Peter Schiff says, “America is doomed. Obama’s deflationary policies are ruining the country and those idiots at the Fed won’t even be able to generate more that 0.5% inflation if they tried.”
That’s what complete victory will look like.