The irony of learning that "inflation is subdued around 2% due to active monetary policy and the actions of the Fed" while sitting in a classroom that's price has increased 500% in 30-years just hit me so hard that I honestly feel like I'm taking crazy pills.
Piggybacking on yesterday's issue, I thought it'd be a good idea to bring this fact to light. As someone who was subjected to four years of Economic indoctrination here in the US, I can confirm that one can spend the entirety of their university career focused on the subject and never once be introduced to Austrian concepts, even in an attempt to disparage them. Instead, you are forced to view the world through the lens of Neo-Keynesianism, never being expected to question mainstream beliefs or the everchanging landscape of Modern Monetary Theory wrought with moving goalposts, lofty theory, and hedonic adjustments which, combined, lead us to a world disconnected from reality.
This makes sense though. When you think about it, the concepts of sound monetary economics and conservatism that the Austrian School champions are completely anathema to the university system and the easy monetary system that enables it. The irony of learning that "inflation is subdued around 2% due to active monetary policy and the actions of the Fed" while sitting in a classroom that's price has increased 500% in 30-years just hit me so hard that I honestly feel like I'm taking crazy pills. Fucking hilarious when you think about it.
You pay tens of thousands of dollars on tuition to then spend thousands of dollars on books that teach you to believe this type of price inflation is normal + healthy. (Any of you college freaks out there reading this, don't buy the books. Biggest waste of money in the world.) All the while, you aren't taught about the whole spectrum of the subject you are being extorted to "master". A very convoluted system if you ask Uncle Marty.
Honestly, sneaky one of the best things that could happen for the future prospects for Bitcoin's improved fungibility; make it cheaper to transact using CoinJoins. Human greed FTW.
The college textbook racket is one of the most egregiously evil things in the world at the moment. Big "don't buy the books" guy. The advice so nice I gave it twice.