healthmyths
Platinum Member
- Sep 19, 2011
- 29,022
- 10,516
Back in the 70s I had just moved my family to Texas and started a new job.
I was listening to the Watergate hearings on the radio while driving on my sales calls.
I didn't know that I was living in the HIGHEST Misery Index in history.
US Misery Index
The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960's.
It is simply the unemployment rate added to the inflation rate.
It is assumed that both a higher rate of unemployment and a worsening of inflation both create economic
and social costs for a country. A combination of rising inflation and more people out of work implies
a deterioration in economic performance and a rise in the misery index.
So look at the moaning and groaning of people today and I really have to laugh at these wimps!
I lived through an inflation rate in 1980 of 13.58% Meaning from 1979 to 1980 the cost of buying gas, food,etc.
went up 13.58%!
So I want those of you that never lived as I and others like me through...i.e. unemployment and cost of living at historical highs! You never had it so good as you are having today.
I was listening to the Watergate hearings on the radio while driving on my sales calls.
I didn't know that I was living in the HIGHEST Misery Index in history.
US Misery Index
The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960's.
It is simply the unemployment rate added to the inflation rate.
It is assumed that both a higher rate of unemployment and a worsening of inflation both create economic
and social costs for a country. A combination of rising inflation and more people out of work implies
a deterioration in economic performance and a rise in the misery index.
So look at the moaning and groaning of people today and I really have to laugh at these wimps!
I lived through an inflation rate in 1980 of 13.58% Meaning from 1979 to 1980 the cost of buying gas, food,etc.
went up 13.58%!
So I want those of you that never lived as I and others like me through...i.e. unemployment and cost of living at historical highs! You never had it so good as you are having today.
