Pronk Pops Show 27, May 10, 2011: Segment 2: OMI-Obama Misery Index–U.S. Misery Index Is Rising As Both The Unemployment Rate and Inflation Rate Increase!–Videos

Posted on May 10, 2011. Filed under: American History, Budgetary Policy, Business, Coal, College, Economics, Education, Energy, Federal Government, Fiscal Policy, Government, Government Spending, History, Labor Economics, Monetary Policy, Politics, Private Sector Unions, Public Sector Unions, Radio, Resources, Tax Policy, Unions, War, Wisdom | Tags: , , , , , , , , |

Pronk Pops Show 27:May 9, 2011

Pronk Pops Show 26:May 5, 2011

Pronk Pops Show 25: April 26, 2011

Pronk Pops Show 24: April 19, 2011

Pronk Pops Show 23: April 12, 2011

Listen To Pronk Pops Podcast or Download Shows 27

Listen To Pronk Pops Podcast or Download Shows 22 (Part 2)-26

Listen To Pronk Pops Podcast or Download Shows 16-22 (Part 1)

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

Segment 2: OMI-Obama Misery Index–U.S. Misery Index Is Rising As Both The Unemployment Rate and Inflation Rate Increase!–Videos

 

http://blogs.reuters.com/james-pethokoukis/2011/04/29/the-obama-misery-index/

Romney Wants to Hang Misery Index Around Obama’s Neck

The “Obama Misery Index”

World Wide Food Shortages & Inflation Crisis – Prepare Now! – Free Emergency Food Offer Below

What is Fueling Food Prices in Texas?

Peter Schiff – Food Inflation And Economic Crisis, Collapse of the US Dollar Hyperinflation

Glenn Beck talking about food shortages, Food Inflation, and Dollar Inflation eFoods

The US Misery Index by President
January 1948 to March 2011

Misery Index = Unemployment rate + Inflation rate

President Time Period Start End Change Avg.
Richard M. Nixon 1969-01 – 1974-07 7.80 17.01 9.21 10.57
James E. Carter, Jr. 1977-01 – 1980-12 12.72 19.72 7.00 16.26
Dwight D. Eisenhower 1953-01 – 1960-12 3.28 7.96 4.68 6.26
Barack H. Obama 2009-01 – 2011-03 7.73 11.48 3.75 10.21
Lyndon B. Johnson 1963-11 – 1968-12 7.02 8.12 1.10 6.77
George H.W. Bush 1989-01 – 1992-12 10.07 10.30 0.23 10.68
George W. Bush 2001-01 – 2008-12 7.93 7.49 -0.44 8.11
John F. Kennedy 1961-01 – 1963-10 8.31 6.82 -1.49 7.14
William J. Clinton 1993-01 – 2000-12 10.56 7.29 -3.27 7.80
Gerald R. Ford 1974-08 – 1976-12 16.36 12.66 -3.70 16.00
Ronald W. Reagan 1981-01 – 1988-12 19.33 9.72 -9.61 12.19
Harry S. Truman 1948-01 – 1952-12 13.63 3.45 -10.18 7.88

http://www.miseryindex.us/indexbypresident.asp

The Misery Index

“…The misery index is an economic indicator, created by economist Arthur Okun, and found by adding the unemployment rate to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.[1] It is often incorrectly attributed to Harvard economist Robert Barro in the 1970s, due to the Barro Misery Index that additionally includes GDP and the bank rate.[2]

A 2001 paper looking at large-scale surveys in Europe and the United States concluded that the basic misery index underweights the unhappiness caused by joblessness: “the estimates suggest that people would trade off a 1-percentage-point increase in the unemployment rate for a 1.7-percentage-point increase in the inflation rate.”[3]

U.S. misery index

During the Presidential campaign of 1976, Democratic candidate Jimmy Carter made frequent references to the Misery Index, which by the summer of 1976 was at 13.57%. Carter stated that no man responsible for giving a country a misery index that high had a right to even ask to be President. Carter won the 1976 election. However, by 1980, when President Carter was running for re-election against Ronald Reagan, the Misery Index had reached an all-time high of 21.98%. Carter lost the election to Reagan.

Misery index – era by U.S president

Index = Unemployment rate + Inflation rate
Rank↓ President↓ Time Period↓ Average↓ Low High Start↓ End↓ Change↓
4 Harry Truman 1948–1952 7.88 Dec 1952 = 3.45 Jan 1948 = 13.63 13.63 3.45 -10.18
1 Dwight D. Eisenhower 1953–1960 6.26 Jul 1953 = 2.97 Apr 1958 = 10.98 3.28 7.96 +4.68
3 John F. Kennedy 1961–1962 7.14 Jul 1962 = 6.40 Jul 1961 = 8.38 8.31 6.82 -1.49
2 Lyndon B. Johnson 1963–1968 6.77 Nov 1965 = 5.70 Jul 1968 = 8.19 7.02 8.12 +1.10
8 Richard Nixon 1969–1973 10.57 Jan 1969 = 7.80 Jul 1974 = 17.01 7.80 17.01 +9.21
10 Gerald Ford 1974–1976 16.00 Dec 1976 = 12.66 Jan 1975 = 19.90 16.36 12.66 -3.70
11 Jimmy Carter 1977–1980 16.26 Apr 1978 = 12.60 Jun 1980 = 21.98 12.72 19.72 +7.00
9 Ronald Reagan 1981–1988 12.19 Dec 1986 = 7.70 Jan 1981 = 19.33 19.33 9.72 -9.61
7 George H. W. Bush 1989–1992 10.68 Sep 1989 = 9.64 Nov 1990 = 12.47 10.07 10.30 +0.23
6 Bill Clinton 1993–2000 7.80 Apr 1998 = 5.74 Jan 1993 = 10.56 10.56 7.29 -3.27
5 George W. Bush 2001–2008 8.11 Oct 2006 = 5.71 Aug 2008 = 11.47 7.93 7.49 -0.44
N/A Barack Obama 2009–Present
Incomplete data
Data updated through March 2011
10.21 July 2009 = 7.30
index offset by negative inflation (-2.10)
Dec 2009 = 12.72 7.73 11.48 +3.75

[4] …”

http://en.wikipedia.org/wiki/Misery_index_(economics)

The US Misery Index

Misery Index (11.48) = Unemployment rate (8.8) + Inflation rate (2.68)

The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960’s. It is simply the unemployment rate added to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation both create economic and social costs for a country. A combination of rising inflation and more people out of work implies a deterioration in economic performance and a rise in the misery index.

The Current Misery Index is
High: 21.98 June 1980
11.48 March 2011 Low: 2.97 July 1953

Misery Index by Year
Misery Index by Month
(1948 to 2010) (January 1948 to March 2011)
(All Months for any given Year)
(By President)
(By Congress)

Unemployment Rate
Inflation Rate
By Year (1948 to 2010) By Year (1948 to 2010)
By Month (January 1948
to March 2011)
By Month (January 1948 to
March 2011)

http://www.miseryindex.us/

Background Articles and Videos

US Inflation To Return: Ameriprise Discusses Investing In An Inflationary Environment

Inflation

inflation rates – how they are calculated

Obama’s Misery Index

 Frank Gutting

In 1980, Ronald Reagan masterfully handed Jimmy Carter the misery index to illustrate the pain caused by his incoherent policies. The misery index added the inflation rate to the unemployment rate and came to a total of 21.98. Barack Obama has surpassed Jimmy Carter. From gas prices and inflation to unemployment and massive federal spending, Barack Obama is happily presiding over the decline of the powerhouse that was the United States economy.

The clearest example of his failure as President is evidenced in the price of a gallon of gas. In the latter part of his administration, George W. Bush received much flak for the rising price at the pump. Americans were hurting as the price per gallon reached a historic high of over $4 per gallon in June 2008. Pundits and politicians flung political attacks against the President for his previous oil adventures, while others blamed speculators. On July 14, 2008, with an average price per gallon of $4.05, President Bush issued an executive order lifting the ban on oil drilling in federal waters. Amazingly, by August 4 the average price per gallon had fallen to $3.82 and continued to decline to $1.59 by December 2008. Then on January 20, 2009, Barack Obama was inaugurated and, with his election, the average price per gallon reversed a 5 month decline, reaching $2.60 by May 2010! Next, on May 28, President Obama issued a moratorium on all off shore drilling. As a result, the price for gas today has risen to $3.78 per gallon, and is expected to reach $5.  His inaction and lack of concern are evidence that the rise in price does not concern him and he is willing to allow it to continue.
Okay, so gas prices are just one issue. What about jobs? President Obama has said repeatedly that he has a “laser like focus” on putting Americans back to work. For over a year he touted his $800 billion stimulus package that would create “shovel ready jobs,” all while preventing unemployment from surpassing 8%. Not only did unemployment pass 8%, but it passed 10% in October of 2010. To make matters worse, the President then revealed, after spending over a trillion dollars, that there is no such thing as a “shovel ready job!” Furthermore, the number of long termed unemployed has continued to rise and the prospect of reversing this trend is dim. Today, even as the government unemployment number has fallen below 9%, real unemployment remains around 17%. So much for the Keynesian policies of government spending to stimulate economic growth. …”

Lesson 3 – Inflation Explained [pt. 1]

Lesson 3 – Inflation Explained [pt. 2]

Lesson 3 – Inflation Explained [pt. 3]

Lesson 3 – Inflation Explained [pt. 4]

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