The Misery Index is making a comeback. That late 70’s and early 80’s relic has stripped off its bellbottom pants and platform shoes, and is boogieing to a whole new mirror ball. Barack Obama is skating the country around the Jimmy Carter rink of inflation and stagnation.
In fact, misery, as measured in the unofficial Misery Index that simply totals the unemployment and inflation rates, is at a 28-year high, reflective of how weak the economic recovery has been and how far there is to go.
The index, first compiled during the soaring inflation days of the 1970s by economist Arthur Okun, is registering a nausea-inducing 12.7—9.1 percent for unemployment and 3.6 percent for annualized inflation—a number not seen since 1983. The index has been above 10 since November 2009 and had been under double-digits from June 1993 through May 2008.
All I have to say to Obama is: You’re Miss Misery. Set Me Free. Please…please…please…
Source: http://www.cnbc.com/id/43441924
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