Misery Index the Worst in 28 Years

[Will E Worm]

How Miserable? Index Says the Worst in 28 Years

When it comes to measuring the combination of unemployment and inflation, it doesn’t get much more miserable than this.

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.

The good news, of course, is that the Fed-led Paul Volcker embarked on a highly successful inflation-slaying campaign that brought the level of misery down sharply through the rest of the ’80s recovery decade.

The bad news, of course, is all the bad news.

Article

 

[Hot Mega]

Article

Now you're getting it...:clap:

If the circumstances were this bad under Reagan when he inherited a less worse economy....why aren't some of you giving Obama's economy the same benefit of the doubt given Reagan's...especially when Obama's is performing slightly ahead of Reagan's off of worse conditions??

Because of what Obama inherited the only surprise should be that his economy is ahead of where Reagan's was. It probably could and should be worse under the circumstances.:2 cents:

You know how they when covering a story on the news, 'for some perspective'? That's what you should take from this....

 

[Legzman]

I'm the most miserable at my job that I've been in the 6 years working there. But with this fucked up economy it's next to impossible to find a job that'll get me the fuck out of where I'm at now

 

[anotheruser]

I blame 9/11 and the War on Terror

 

[lurkingdirk]

There are a HUGE list of things on which this can be blamed:

September 11
2 expensive wars
Previous Administration
Current Administration


And the list can go on and on. Blaming it on solely on the sitting President is beyond ridiculous.

 

[busenbust]

what does one expect; the most severe recession since the great depression of the 30s; and there is no fucking recovery -- despite what they tell us .

 

[Hot Mega]

And the list can go on and on. Blaming it on solely on the sitting President is beyond ridiculous.

You're looking at it the wrong way if I may say so.

What this should cause people to do is compare the circumstances when Reagan became president...the circumstances when Obama became president then weigh in the balance what ultimately became the case under Reagan.

People associate Reagan's economy with utter prosperity but I say again, at the exact same points in their presidencies Obama's unemployment numbers are slightly better. So why all the sky is falling talk on the Obama economy?

It could be argue reasonably that Obama kept things from being much worse had he not taken action which saved jobs and added others.

Isn't it reasonable considering the trouble the banks and auto industries found themselves in that the economy should/could have been somewhere between Reagan's worst economic years and the Great Depression level economy? INSTEAD of actually being slightly ahead of where Reagan's was?

 

[lurkingdirk]

You're looking at it the wrong way if I may say so.

What this should cause people to do is compare the circumstances when Reagan became president...the circumstances when Obama became president then weigh in the balance what ultimately became the case under Reagan.

People associate Reagan's economy with utter prosperity but I say again, at the exact same points in their presidencies Obama's unemployment numbers are slightly better. So why all the sky is falling talk on the Obama economy?

It could be argue reasonably that Obama kept things from being much worse had he not taken action which saved jobs and added others.

Isn't it reasonable considering the trouble the banks and auto industries found themselves in that the economy should/could have been somewhere between Reagan's worst economic years and the Great Depression level economy? INSTEAD of actually being slightly ahead of where Reagan's was?

While I agree with you on all counts, I'm trying to keep it simple for some of the members here who are hell bent on saying that everything that is currently wrong is the fault of President Obama.

I think that while Obama has blown some opportunities, by and large I believe we're better off in this nation because of (most) of the policy his administration has drafted, and because of the attempts they have made to improve the economy and employment. I fell that in another year and a half, when it will really start to matter what people think, this will be more self evident.

 

[mrtrebus]

 

[PirateKing]

Not enough people are getting laid, that's the problem. What happened to appreciating the simple things?

 

[busenbust]

Not enough people are getting laid, that's the problem. What happened to appreciating the simple things?

:1orglaughyep, and not enough exercise -- and sunshine :hybrid:

 

[Ike Stain]

September 11
2 expensive wars
Previous Administration
Current Administration

The only real issue with Obama in this regard is he's too in bed with the radical economists who helped create this crisis.

This entire thing is based on misuse of financial products by amoral investment institutions who profit in boom AND collapse, and an unwillingness of these very people who are doing great as we speak to do anything for the common good. For them, this whole thing has been a buying opportunity.

There is no "free market". What there is is a market that is manipulated by those with all the capital for their own benefit and everyone else's misery.

 

[Violator79]

I think America has been miserable for a lot longer than 28 years. If you go back to the Great Depression, then you'll see where it really started. This country was just starting to get back on it's feet right before we got into WWII. After we joined the war, we showed everyone what this country could do when we really tried. After the war was over, then things really started going downhill again its been continuing ever since.

Ever since the end of WWII, we've just continuously been sticking our nose into other people's wars and businesses at the cost of American lives and American jobs. We have no more steel industry left, can't get health care, Social Security dying off, etc. The only people that aren't miserable are the upper 1% who really run and control America. They don't give a fuck about anyone else in this country. The only people they give a fuck about are the foreign countries. Why? They're only worried about what they can get for themselves from other countries or take what we have left here and give it to the other countries at the cost of jobs here in America.

I know it's totally pointless and it'll never happen, but America should be a neutral country again, but with the idiots in control of the government and corporations that really control America, it's no wonder why this country is miserable.

 

[Will E Worm]

9/11 was over a decade ago. Obama cannot continue to blame Bush at all.

The agricultural and manufacturing base needs to be rebuilt. That would help a lot. Drilling and mining more in our own country would be a good idea.

I think America has been miserable for a lot longer than 28 years.

Too much working. Also, shipping good jobs to other countries. They need to be brought back.

I know it's totally pointless and it'll never happen, but America should be a neutral country again, but with the idiots in control of the government and corporations that really control America, it's no wonder why this country is miserable.

I agree. America needs to bring more troops home and close more foreign bases.

 

[busaguy79]

This economy is dying a death of a thousand cuts and this has been happening for decades!!

 

[Ike Stain]

9/11 was over a decade ago. Obama cannot continue to blame Bush at all.

Actually, I think we can blame Bush forever, but we also can blame Clinton, Regan, the Congress, and Obama for not being proactive enough.

The agricultural and manufacturing base needs to be rebuilt. That would help a lot. Drilling and mining more in our own country would be a good idea.

I agree on the Agriculture. Get rid of the corn subsidy, but in terms of mining, do you really want our skies and water to become like China's? I don't exactly see people flocking to live in West Virginia.

What we really need to do is develop the "green energy" sector because that's where we're falling behind. We need to stop subsidizing 20th century industries and start building the infrastructure for 21st century industries on a massive scale. People actually live in states like AZ and don't have solar panels on their roof—that's just plain stupid.

I agree. America needs to bring more troops home and close more foreign bases.

I can't believe I actually agree with you on something. :clap:

 

[Ike Stain]

This economy is dying a death of a thousand cuts and this has been happening for decades!!

U.S. is still by far the strongest economy in the world. It's blue collar workers who are mainly getting the shaft. It's what happens when you stop voting union.

 

[Violator79]

U.S. is still by far the strongest economy in the world. It's blue collar workers who are mainly getting the shaft. It's what happens when you stop voting union.

If that's true, then why did the government bail out the auto industry? Why is there no more steel industry? Why are the only jobs people can get these days are low paying jobs with no health care? It seems to me the only jobs that get paid well, other than the criminals in the government are being a drug dealer and the porn industry.

The only downside to being a drug dealer or being involved in any kind of illegal activity is if you get busted, then the criminals in the government make even more money that they have not earned or deserve and continue to fuck over the little guy in this country.

 

[busaguy79]

U.S. is still by far the strongest economy in the world. It's blue collar workers who are mainly getting the shaft. It's what happens when you stop voting union.

True we are but everything that made our economy the biggest strongest economy in the world is quickly dying and we are taxing wayy too much on one group of people and its these people that are losing their jobs so we are being caught in a Catch 22 that those we voted in to run this country are refusing to see

 

[Ike Stain]

True we are but everything that made our economy the biggest strongest economy in the world is quickly dying and we are taxing wayy too much on one group of people and its these people that are losing their jobs so we are being caught in a Catch 22 that those we voted in to run this country are refusing to see

Tax rates are actually pretty damn low, while policies like no tax on dividends (which only the rich benefit from) and ridiculously low rates on short term capital gains (which encourages speculation and makes markets volatile.)

There's no way to "cut" our way out of this mess. Tax rates are going to be moving up, regardless of whether the Republicans or Democrats are in charge. Mark my words.