Remember the Misery Index?

November 9, 2009

I am not sure Jon Hilsenrath of the WSJ does: “It’s hard to get inflation when unemployment is so high.”

Just go back to the 1970s, my friend. How about 1975 when we had roughly 9 percent inflation and 9 percent inflation and 8.5 percent unemployment? There’s your Misery Index. Actually, the rest of the article is quite good, focusing on how banks are buying treasuries rather than lending.

One comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see

Hilsenrath is about 25, right? Of course he doesn’t remember.

Posted by David | Report as abusive