« | »

‘Misery Index’ At Highest Point In 28 Years

From a selectively remembering Reuters:

U.S. "misery index" rises to highest since 1983

By Ann Saphir
Thu Oct 20, 2011

CHICAGO (Reuters) – An unofficial gauge of human misery in the United States rose last month to a 28-year high as Americans struggled with rising inflation and high unemployment.

The misery index — which is simply the sum of the country’s inflation and unemployment rates — rose to 13.0, pushed up by higher price data the government reported on Wednesday.

It’s been on the rise for some time now. You have to wonder what woke Reuters up. Perhaps they are trying to help out the OWS crowd.

The data underscores the extent that Americans continue to suffer even two years after a deep recession ended, with a weak economic recovery imperiling President Barack Obama’s hopes of winning reelection next year

Ah so. Now we see what this is important. It could imperil Mr. Obama’s re-election. This news is serious, then.

Consumer prices rose 3.9 percent in the 12 months through September, the fastest pace in three years

But there is no inflation. The Obama administration has told us so. And what inflation there has been in unimportant items like fuel and food has been offset by the declining value of houses.

By the way, if you go to the government’s own CPI Inflation calculator and plug in some numbers from 2009 or 2010, you can see what a laugh it is to claim there has been no inflation.

Of course the Obama administration has admitted that there is inflation this week, by announcing their first increase in the Cost Of Living Adjustment (COLA) for Social Security. While as the same time they are pushing to continue the ‘payroll tax cut’ which is the sole source for Social Security funding.

The last time the misery index was at current levels was in 1983. But in 1984 an improving economy probably helped President Ronald Reagan win reelection

Note the conspicuous absence any mention of President Jimmy Carter. Or any mention of Mr. Reagan’s tax cuts, which got us out of misery PDQ and helped him to win re-election in an historic landslide.

This year, the index has risen more than 2 points

While the misery index rose in September, many economists expect some respite in coming months, driven by softer inflation

Lower misery, like prosperity, is just around the corner.

This article was posted by Steve on Thursday, October 20th, 2011. Comments are currently closed.

2 Responses to “‘Misery Index’ At Highest Point In 28 Years”

  1. Rusty Shackleford says:

    Yep, for three plus years we’ve been hearing/reading the news through the “how it affects Barry” prism. I was sick of it long before the election in 2008. I knew, as did everyone who comes here and millions of other Americans, that Obama was bad news. However, given the slant that he’s the “first black president” I suspect that even after he’s un-elected in 2012, he’s going to be gum-on-the-shoe of America for some time to come.

    Carter blended into the obscurity of the 1970’s wood paneling, Ford, likewise. Reagan died and both Bush’s are enjoying their private lives with very little to say about anything. Clinton, of course, can’t keep his gob shut but he’s just kind of become “white noise” in the sense that he’s background hum. Like a fan in room that moves the air around without changing its temperature.

    But wee Barry…..he’ll be most like the kid who just had a birthday party and some days later, missing the attention, will do or say something just for attention. When people ignore him, as they are now (but it hasn’t dawned on him yet as to why), he’ll shout “lookit ME! Lookit ME!” that much louder.

    There will be the inevitable spotlight moments…but only for a time…assembled by the true believers and they might even be able to grab some attention. But he will vanish. Not like Carter vanish. The US will be pro-active in snubbing him. You know, Richard M. Nixon, “I can’t get arrested” kind of vanished. He’ll be gum-on-the-shoe for a time but he will wear off or get scraped off or America will just throw the shoes out.

  2. wirenut says:

    Rusty, If you ever want to try a “Reese’s peanut butter cup” and a homemade bottle of distilled rye, I’ll see you in my garage. ASAP. Ditto to the above. I’ll leave the light “ON”, and the butter cups are in the frig. HAW!


« Front Page | To Top
« | »