May 9, 2022
Stagflation – Another Blast from the Past
By Brian C. Joondeph
“History doesn’t repeat itself but it often rhymes” is a quote attributed to Mark Twain. In the political and economic world, this maxim is proving true, as we are witnessing today.
The misery index is one such bit of history, dating back not that far, to the Jimmy Carter presidency of the late 1970s. Calculated by adding the unemployment and inflation rates together, the misery index “measures the degree of economic distress felt by everyday people.”
It is currently just over 12 percent, and that’s being generous given how the government calculates inflation. More on that later. The misery index reached 15 percent just after COVID hit and the country locked down, closing businesses left and right. During the Carter era it topped 20 percent.
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https://www.americanthinker.com/articles/2022/05/stagflation__another_blast_from_the_past.html
