American Thinker:
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.
Former House Speaker Newt Gingrich was recently interviewed on Fox News and brought up the misery index along with another golden oldie, stagflation. This is a term first used in the 1960s in the United Kingdom, describing a period of a stagnating economy along with rampant inflation, hence the coined term.
Various definitions have been applied to stagflation. Investopedia describes, “Stagflation can be alternatively defined as a period of inflation combined with a decline in the gross domestic product (GDP).” Former Speaker Newt also used the term in his Fox News interview, tying them both together:
We lived through this with Jimmy Carter. It ended up being called stagflation and people ate it up. The unemployment rate and the inflation rate and turn it into the misery index by adding the two numbers together, we have a grave danger of being worse off in another year or a year-and-a-half than we were under Jimmy Carter.
The eggspurts on the TeeVee advised this morning that the record high US fuel prices are likely to remain such certainly into next year.
Meanwhile, Russians oil sales to India are up 26% (great job on the embargo, Shitpants) and their foreign trade with China is at record highs.
And they have no shortage of baby formula.
It’s not just the printing money and giving it away. It’s the regulations that stifle business as well.
Dow below 32,000.
Implosion in real time.
I’ll never say I told you so.
DOW is down all of 13% from it’s highs. After doing nothing but go up for over a decade. A pullback is to be expected, this is far from an implosion. If you say inflation is 20% and we’re 1/2 way thru the year, in real terms the DOW is down 23%, still not quite an implosion after doing nothing but a vertical ascent for more than a decade. The stock market is a derivative of the bond market, and the bond market is, at this time, stable. This doesn’t equate to an implosion at all. It might turn into one, but it’s not one right now, or in “real time” terms. Of course, I don’t expect Joe to do anything but fuck up the situation, so anything is possible, especially if the goof decides to get us wrapped up in a nuclear war.
Nothing lasts forever. Nothing bad lasts forever.
ecp, we’re on the same side and I welcome your optimism but I see no way out of hyperinflation and a severe recession. None of this bodes well. Check your balances in six months.
And yes, Biden WILL do more stupid shit.
The good news is November is looking better and better. People will vote with their wallets.
Let’s go Brandon!
Cheers.
So, whyfore are the “market” AND precious metals down (seems they used to move inversely)?
But Ammo’s still up?
And the big Pharmaceuticals are amassing $Trillions.
None of this bullshit makes any sense, except as harbingers of woe.
mortem tyrannis
izlamo delenda est …
Dark days ahead, thank a democrat.
Fritz,
A few good ways to deal with inflation, and it depends if you have debt or not.
Essentially Regular investment in REAL Businesses that have the ability to raise prices to remain solvent. (usually dividend payers)
Gold, but it pays FUCK ALL DIVIDENDS and there is a cost to convert it to cash. (2% in & 2% out at minimum)
Owning your own real Estate without crushing debt, like a farm or house in a safe area. (not ShitCago) Farmers can BARTER & work together.
And Lead – If it comes down to lead, that is a very serious world of hurt for everyone.
“When the dog barks…SELL!!!”
“When the bell rings…BUY!!!”
Every significant inflation creates a recession. If it is possible to leave the recession alone the recession will end the inflation. Stagflation is the period where the recession hasn’t yet ended the inflation.
The major cause of inflation is the government spending money it doesn’t have and has no hope getting by taxing the citizens.
“You’ll own nothing, and we’ll be happy.”
– Some nazi billionaire faggot at the World Economic Forum
The left trying to jam through their agenda during the Covid recovery is a huge blunder, but they don’t care about the misery they are causing.