The Misery Index

The Misery Index used in the 1970s 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 probably fail to provide the basic reasons for its conception and rebirth. But perhaps use the real unemployment rate, not the understated one of about 9% used today. ( See the Earl J Weinreb NewsHole® comments.)