Misery index... Hardly
The "misery index" created, I think, by Arthur Okun, is a function of the unemployment rate, the inlfation rate, times the velocity of light squared.
Until fairly recently, many leading economists said that an unemployment rate of above 6% would "ignite inflation."
It hasn't, which is one reason the markets were up today --- on a Friday...
Ben
posted by Ben Wattenberg at 6:46 AM
1 Comments:
You live in Washington DC, right? So you should not have to travel far to see evidence that "misery" does exist in America.
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