In 2011, with Obama at the helm, it appears the more the merrier, with the exception of his family and Washington cronies of course. We have the old Marie Antoinette thing going and yet it appears no one has the guts or backbone to do anything at least for now anyway. Where’s Ronald Reagan and Paul Volcker when you need them?
Sorry to say and I agree with international equities specialist Eric Fry, this time around there is no Paul Volcker at the Federal Reserve to stare down Misery or to wage war against inflation. In his place, Fry reminds us we have Ben Bernanke, who prefers to coddle Misery, rather than confront her. Breaking news: Feds leave target interest rates a record low.
Oy! If Misery was at an all-time high during the Carter Administration, then what are we experiencing today?
In honor of Obama’s recent global tours, I’d like to introduce the Über-Misery Index! Topping out now at 12.7% (although without the Washington bean counter magic it could be upward of 30% some say), the Obama years (and yes he has been in office almost 3 long years) makes the Carter years of high inflation and gas rationing look almost rosy. Can we blame Obama for all of it? No, of course not…recessions are cyclical just look at past history.
The “Über Misery Index” (a completely farcical statistic dreamed up by yours truly) is a very different animal because it takes into consideration inflation and unemployment rates as well as loss of integrity, pride, and love of country. With values and ethics at an all-time low in the United States (sorry Weiner, Schwarzenegger…one more deserved slam), I felt these components or assets to some were important to include in my index.
So while I get that we need to create more jobs, increase manufacturing domestically, and export more globally to be more competitive all while lowering the consumer price index, the other qualitative factors like integrity count too. At least for me they do. Integrity, pride and love of country are traits which encourage the “can do” spirit during recession. They are the ingredients of productivity which allow you to break barriers even when the cards are not stacked in your favor. They are also the same traits which appear to be going extinct in America today.
I remember when Reagan took office, many didn’t like him. We were a down nation much like today, depressed and skeptical after Carter. But Reagan came into office with conviction, spirit, vigor, honesty, and kindness. He didn’t soft shoe around his positions. He had a vision for America that was infused with real and immediate hope and change based on making real economic changes that energized Americans unlike the Obama version: Hope & Change 2.0 formatted conveniently for the make-it-quick voter.
Reagan inspired confidence, sorely lacking today.
As I sit as my computer clicking out this blog post, I don’t in fact feel Über Miserable. Things aren’t so bad from where I am sitting: I have my family, health (well except for that broken arm thing back in April) and my small business, which is still by God chugging along despite the misery. Can’t ask for much more.
For those of you feeling Über Miserable of late, my advice: shake it off. In times of recession, people always become more productive (what goes up must come down or vice versa in this instance); it’s an economic fact supported by over 250 years of history. And, my dad, with bachelor’s and master’s degrees in economics, told me so (he was grilled on during this topic during his master’s dissertation interview, pinky swear).
So as a mom, blogger, and common sense conservative on most days of the week, turn that frown upside down…it could be worse…you could be living in Greece with an off-the-charts Misery Index (worse than Über!).
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