By Andrew Moran
The American people are not doing well, according to the Misery Index print in June. The White House may believe it presides over the greatest economy in US history. Therefore, it is not surprising that the Washington establishment is telling citizens to remedy problems the administration created. Are motorists suffering from high gasoline prices? Buy an electric vehicles. Are households struggling to afford food at the supermarket? Scrounge for some bugs. Are workers living paycheck to paycheck? Well, be grateful for the thousands of dollars in stimulus from President Joe Biden last year.
The Misery Index
The Misery Index, also known as the stagflation index, is calculated by combining the inflation and unemployment rates. The measurement was developed by Yale economist Arthur Okun, who served under President John F. Kennedy. It became widely popular in the 1970s as the US economy watched a skyrocketing consumer price index (CPI) and rising joblessness simultaneously. Put simply, the higher the composite index, the more miserable the average person is in the marketplace…