Friday, November 03, 2006

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...



Anonymous Anonymous said...

You live in Washington DC, right? So you should not have to travel far to see evidence that "misery" does exist in America.

November 04, 2006  

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