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Ed and Fed: an empirical evaluation

Of all the non-constitutional governance empires in the U.S. today, two are of particular interest to this scribe.

One is public education, particularly in Vermont, where the K-12 establishment has managed over the last generation to create once-unimaginable costs producing no significant student achievement gains; the other is the U.S. Federal Reserve system which has managed, during its 95-year life-span since 1913, to evaporate 95 percent of the purchasing power of the dollar.

Both empires have skillfully maneuvered to evade empirical evaluation of their actual performance. Quite unlike your quintessential private-sector widget sales-and-service guy-who lives or dies, economically, from the end-user evaluation of his product and/or service-both Ed and Fed are pretty much immune to competition.

Those parents, who choose a non-public alternative for educating their children, must pay for both the public system they don't want as well as the private one they do. Those who would compete with the Fed, in fiat money creation, will be dealt with by a platoon of Secret Service agents sporting dark suits and sunglasses and tasked to terminate all arbitrary, non-value based paper money creation-except when their client, the Fed, does it. But surprisingly, these days, Ed and Fed are on the defensive.

In Vermont, it's the combination of a down economy and a concurrent rise in the state property tax for schools (even Keynesians know better than to raise taxes during an earnings-dip) as the background to the educrat-created phenomenon of costs growing mostly because of staffing increases (even as enrollments shrink, which is causing the current angst.

So far, parents have seemed (at least to me) strangely unconcerned with their school denying responsibility for producing any particular level of proficiency in the students it's paid to teach.

Nationally, I'd guess it's the rise (more like a quantitative explosion, where the word 'trillions' has replaced mere 'billions' in the casual language of politicians) which has generated a new grassroots awareness of national debt and deficit levels-plus a surprising new grassroots opposition to what the Fed, egged on by Congressional and Executive branch bosses, has historically been doing. There have been lots of end the Fed signs visible at those conservative-populist tea parties so disdainfully dismissed by the blindered liberal-left majority.

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