David Stockman, who decades ago served as President Reagan's budget director, he of the "Trojan horse" gaffe, has written a wonderful brief essay on the latest move by the European Central Bank, which has jumped pumped one trillion new euros into circulation with a mammoth bond-buying program. Trillion. With a "t". This has all the looks of a desperation move to keep together a single-Eurozone system where the centrifugal forces are powerful. Here is Stockman's take on it. Charlatan of the Apparatchiks . Stockman introduces the graph above, which shows Europe's consumer price index since 1990. There has been a good deal of talk about how the ECB's dramatic move is necessary to slay the monster of "deflation." But as you can see below, that isn't much of a dragon worth slaying. The lowest the CPI has gotten since 1990 was -0.5, a mark it hit only once, briefly, in 2009. Then it quickly rose back to 3% and has fallen since, fo...