Just how miserable do you feel these days?
When it comes to North America’s economic outlook, things do look rather gloomy right now. If you have any doubts, have a look the Misery Index.
Like the dreaded wind chill factor, the index takes unpleasant facts of life – unemployment and inflation – tries to gauge just how bad they make people feel. It’s a U.S. measure but the Canadian picture isn’t that much better.
Right, now the index is at a 28-year high, reflective of how weak the economic recovery has been and how bleak the future looks to many people.
In fact, the index, first compiled during the runaway inflation days of the 1970s by economist Arthur Okun, is registering a nausea-inducing 12.7 — 9.1% for unemployment and 3.6% for annualized inflation.
The trouble with all such measures is that they assume everyone is in the same boat — which they’re clearly not. In fact, your own personal Misery Index could be even higher.
Some would also argue that the misery index is only relevant if you assume that the two components have equal impact — which they clearly don’t.
10% unemployment and 1% inflation would result in the same misery index as 1% unemployment and 10% inflation. But somehow I doubt you’d be "equally miserable" under either of these scenarios.
How are you feeling right now? Is your personal Misery Index sky high or have you found a way to look at things differently?
By Gordon Powers, MSN Money
Posted by: j denis huggard | Oct 6, 2021 9:41:20 AM
helloooooooooo-a helluva a loy better [age 74]when i reported to dr linda foltz medical office oct 5 and learned after 4 years of big trouble that i do not have the horrible death didease leukimia!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1poor young indi/cdn guy with wife!age 40 has it-his comment was much pain...................amanda knox returns to seattle!!!!!!!!!!!/now i can continue with building $85,000,000 marina in curacao-who wants to assisst?????????????
Posted by: 4wildlife | Oct 10, 2021 10:59:43 AM
denis,
get off the drugs, man!
Posted by: welfare be gone | Oct 10, 2021 12:03:45 PM
last year, my neighbor, who has been on welfare (he calls it social assistance) for the last twenty years and had two children while on welfare told me that he wanted a third child, i told him that if he had a third child to not ever call me again for help (code word for free drives 3 to 9 times per week and long term interest free loans) the last recession took its tole on me and i am too tapped out to help someone with a new baby, when i can't afford one myself. i found out that he was expecting number three earlier this year, number one turned 18, and was shown the door, he moved with his aunt to the city. just recently the phone started ringing again, the cheapest thing for me to do is to not answer it, i am still pissed off that when i told him that i would cut him off, he wished me a ten dollar per litre gas bill so that i would also lose my car. i asked him if he was retarded, ten dollars per litre gas means fifteen dollar per litre milk, a eight dollar loaf of bread, etc. etc. etc. he told me that i was wrong, thank god that there is about a kilometer that seperates our houses, he is too lazy to walk, which i told him he would lots of if the gas went up that high, an empty car is cheaper to drive than one with a 220 pound bum in it and nobody would take him for free, half of his welfare check would go for taxis. he made me miserable by squeezing me dry and letting one of his improperly raised kids damage my car by climbing on it and scratching it by rubbing mud and dirt on it, i told him that it would be expensive to fix it, he said that the repair shops were a rip off and that he wasn't giving them money, and that all cars would end up at rusting out at the dump one day. i said fine, now you will pay the true cost of drives, and your kid is barred from my car, this was before i cut him off, i put up with this because he is a cousin of mine, but no more, my misery index will go down and his will go up, i don't care about him and his little baby at all, when the baby bonus for his first born ran out, he threw him out. he is done milking me, the tap is now dry. i am free.
Posted by: sue | Oct 10, 2021 2:32:28 PM
You would think someone on welfare for 18yrs would set off red flags. Nobody would be out of work that long unless they are just too damn lazy to work. If he had a disability, thats different.
Posted by: pissed off canuck | Oct 10, 2021 3:17:58 PM
in canada, welfare is a lifetime career choice with excellent health care benefits, second to none, the only training required is to have as many kids as you can, the baby bonus is money.
Posted by: Ashleigh | Oct 10, 2021 8:45:55 PM
lol. yet canadian welfare gives you a hard time if you are actually get find employment or if you want to college/university.
Posted by: Trixie | Oct 11, 2021 12:26:11 PM
Just how miserable am I? There's a question Mr. Buckland. I"m doing fine. Thanks for asking. I've had to cut back, but that's part of North American territory right now. Life is a cycle. Give it time, life will get better in North America eventually.
I agree with "pissed off canuck" as well. Welfare is a career here, and we pay Canadians to have kids. Stupid in my opinion. In complete agreement with mr. canuck.
Ashleigh, I agree with you too. The gov't is like some parents. They are good at dishing out the money uselessly, yet can't teach the kid how to make it in life. The question there is, is this the gov't responsibility or is it your parents'?? There are different schools of thought on that.