Remember the Misery Index? If you who were not around or were too young in the 1970s, you may not have heard of it.
The Misery Index combined the unemployment and inflation rates. reaching a high of 22 in 1980. It confronted Ronald Reagan when he got into office, replacing Jimmie Carter, 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.
The media then will no doubt fail to provide the basic reasons for its conception and rebirth.
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