Is the Misery Index Around the Corner?

Remember the Misery Index? Those of you who were not around or were too young in the 1970s may not have heard of it.

That index combined the unemployment and the inflation rates. It reached a high of 22 in 1980. The Misery Index confronted Ronald Reagan when he got into office, during what was the worst recession since the Great Depression of the 1930s.

The media does a poor job of relating this bit of news. A few years from now when inflation takes hold because of our huge budget deficits, the Misery Index will no doubt be back in vogue.