What's Wrong, Such That 'Stimulus' Just Isn't Working?

You could practically hear the popping of champagne corks, a uniform echo of celebration for the completion of a long journey. All across the developed world last month, inflation finally registered 2%, the very threshold that almost every monetary policy regime has come to define as stable prices. Below that level suggests concern, a high degree of economic risk about the fomenting of deflation and potential for the worst case. That was where the world had been for years prior to February 2017.