Obama Misery... Continuing To Worsen

by: Les Carpenter
Rational Nation USA
Birthplace of Independent Conservatism
Liberty -vs- Tyranny

As President Obama continues to prove his incompetency in all things economic the nation's misery continues to mount. Obama's "Hope and Change" has morphed into "Despair and Despondency" for the American people.

The Misery Index became a household word in the mid 1970's during Jimmy Carter's inept presidency. Thirty years later the inept Obama presidency is on the verge of again making it a household word.

From Investors.com.
Economy: As if the picture weren't bleak enough, here's one more data point to worry about — the Misery Index is on the rise.

Conceived by economist Arthur Okun in the early 1970s, the Misery Index simply adds together the inflation and unemployment rates to create an effective indicator of real-world suffering.

It gained notoriety under President Carter, whose growth-choking, easy-money policies pushed the index to its post-World War II high. Now, under President Obama's equally disastrous economic policies, the Misery Index is making its return.

The annual inflation rate for May climbed to 3.6% as price spikes spread beyond oil and food. At the same time, May's unemployment rate edged up to 9.1%, yielding a Misery Index of 12.7.

That marks the fourth straight monthly increase in the index, which is now 62% higher than it was when Obama took office, and 57% higher than it was when the recession officially ended.

Obama's Misery Index average of 10.37 is higher than George W. Bush's (8.11) or Bill Clinton's (7.8).

Admittedly, we're a long way from the 21.98 peak during the Carter administration. But with Obama vigorously stirring the stagflation cauldron for the past 2 1/2 years, it should be no surprise that we're heading in that direction. Consider: {Continue Reading}

Cross posted to Rational Nation USA

Via: Memeorandum

1 comment:

  1. Since 'Quantitative Easing' has run out of soft money ... look for the cost of money to rise, which starts to look like the beastiest of all beasts ... STAGFLATION. Ack! (Bill the Cat)

    "Because the Only Good Progressive is a Failed Progressive"


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