Economists and central banks debating inflation targeting is a somewhat ridiculous distraction... much of the data they use is based on surveys, adjustments, th

Economists and central banks debating inflation targeting is a somewhat ridiculous distraction... much of the data they use is based on surveys, adjustments, theoretical models, or comes from inherently biased entities such as banks and governments. There is no real reason to think that 2% vs. 3% vs. 4% vs. whatever rate is, as a general rule, "correct". It is just an excuse to manipulate interest rates and make policies to benefit parties that thrive on financial engineering. When asked about if the the US social security system could remain solvent, Alan Greenspan pointed out that they can always create as much money as needed to meet the nominal obligations of the system; however without the production of real goods and services, the details of legal financing are irrelevant. Economic growth only comes from real labor, resources, goods, and service - not from finance.