The Federal Reserve is concerned that the price of oil may be causing inflationary pressures in the U.S.
Well, the real culprit is the cost of tuition.
Universities, the bastion of intellectuals telling us how to live, have long known that they can be unreasonable about their tuition increases because they have the lock on the "credentials" box that people need to access for their professional futures.
Universities can be arbitrary, frivilous, wasteful, autocratic, and act with impugnity. They are the keepers of the keys.
Universities are the U.S. version of the oil cartel. Like the sheiks of the Middle East, the college boards can squeeze the people for more and more money with the promise of the good life. Unfortunately, more and more graduates are finding that they have paid a lot more for something that isn't really getting them very far... just like oil.
