Economists love their data because somewhere in the numbers lies the answer to the ills of the country. They also love to frame data in a way people can relate to. Such is the case with the famous "misery index."
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Forty five years open named after weighing going. This is like forty eight. Now he isn't this disease, but it would be weird. I would be named after very like kindergarten twinkling if your parents were friends of his parents had a really thought a lot about what he's a real achiever wing clearly going places Kay, weird sidetrack. It was already out of the gate, man how you feeling I'm good girl out on you play an icon on oh you know today is what did today is the day that I leave this office and I go to a shop in the park and pick up for brand new last chance garage hats, oh wow, it's a big day very big day day,
I have a couple of people would like to thank the big deal than it should be for a grown man and a hat, but we all understand, first of all, Katy my patch maker is really where it all came together to patch. It isn't right, that's not right! Right, Katy killed it, it look identical and you can find her work at tulip cake, dot com, not Eu L, a p cake, and I said you know people might ask you to make you to make them less chance, rush patches You have destroy them all and I set out on me now: it's on you up the! U legally, I'm the saying you might get request. You should have been like even the terrible who blinded is architecture that I brought his house, not care of people that live to see these things around and Le Mood big hats. Oh, I m o d for big heads because part of the problem as finding
saw her Yemen like the problem. I have with happy days look like I have a huge Edna they did is fit so snugly and they d go far down another my head, so I finally looked up oversight, hats and found the mood hats and do their exactly like the old hat, except they doesn't stink. Oh yeah, like these are great I got forebrain is an improvement for sir. You gonna put women the seed vault Norway, you probably one there they'll be won in the nuclear suitcase damn. Where the other two at the same time, at the same time, back like you're like that's right anyway, I'm super excited ass, pretty cool like you to Katy and limited hats for allowing me to spend too much money getting foreheads remained in speaking of our thinking, people. We we owe a long overdue. Thank you to again,
I, who made us a really cool sign. Oh you mean the the sign this guy made. Four six seven years has seen some at ST he's at fat, bison dot com and it made a really a whole woodcarver ideals in our tv show. It was like, like their production company, get clearance right for knowledge. Seven, we love the site who just forgot to everything: mass a math. Thank you so much for the site. We love. It were hanging here in the studio. It is a work of art and we appreciate we're sorry for the oversight. Is that other thank yous? So let's talk about the misery and Axa yeah. What a greater
mission. Have you had you heard of it before you came close historical yeah? I didn't know a lot about it, though in Non apparently it's gonna move it out of fashion. Lately from what I understand, I think so because well, let's get into it. Ok, but Tirzah Economics as a whole is in danger of going out of fashion over this really interesting article on a on which is maybe the grace website on the planet, Owen, DOT,
might be that seo. Consider british about a lot of websites. I think I said about a lot in and it seems like I'm talking about different ones, but there is an article by Alan J Levine of its in it's called the new astrology. Any basically makes a parallel between economics and economists in economic theory. Why don't you take economics and try to apply it to future forecasting bright and e on the BBC E chinese astrologers that basically directed the way that the economy or the government was going to move based on the movement of the stars? So they say it's you might want to do that. He just pretty pretty interesting parallel to that. That economics in and of itself is not necessarily flawed, but when you see forecast the future, then it becomes inherently flawed. Yeah this this article really kind of cement.
Yeah yeah to an extent I mean the misery indexes of legitimate economic tool and its hit or miss a lot of ways yeah. I think one thing under me with researching this: is it just seems impossible to say that there is one correct way of doing things right or there is absolute and you, like you know, if you do things this way, then there will be nothing but growth and jobs and the JD, P sure and GNP and adjust it just doesn't seem to work that way, for I think the problem is there if you listen to occur miss they like to act like they do have a handle on that kind of thing. But if you really look into economics, it's very politicized. There's liberal economics in this conservative economics and the fact that each one saying is right can make you think that maybe no one but the misery index actually there is. It started out
from a guy who was pretty good at walking the line between conservative and liberal economics a guy. What was his name? Oaken yeah ok great, and here he worked on these staff is council of economic advisers. John F Kennedy that is, and he was I get the feeling one of the main influences and talking Kennedy initially did not necessarily agree, but talking Kennedy into kind of trying to act, both conservative and liberal economic policies simultaneously right. They were the! U S was in a recession. Yet when Kennedy took office in nineteen, the wine and they talked him into not only increasing government spending like welfare programmes, they raise the the minimum wage and- some other stuff like that, but they also cut taxes, which is
You do one or the other. You cut taxes and hope everything goes for the best, because businesses will start investing in spending or you start it. You start investing in welfare programmes to help ailing lower and middle classes. Right you, don't you both, yet it Kennedy did, but nothing ever successful yeah. He became the first said error. I don't know I don't know about this either. My Kennedy sounds like a robot montana. Do excellent news is fine, but Arthur Mr Kuhn Oaken. Ok, I think oaken oaken, twitter name, ok, you and he talked him into it and said trust me, and things worked out in that case, you're well in a lot of guys, including opens names, were made by this advice that panda like the: U S in our debate, yeah and I'm open, ended up as being the head of the Council of Economic advisers for Kennedy, successor
Johnson yeah in them. One thing that economic economic costs economists love to do is I mean you, love the forecastle that stuff, but it all about data to man. They love to pore over data here like stuff that makes the average person their mind bleed from boredom. They just find it fascinating. That's what they do on Friday night Friday night, they pour over data, historical data, nine define you know, it's like the big puzzle in their eyes, trying to solve right. So they pour over this data. Oaken did- and he said you know what I noticed something here between nineteen forty eight when we started recording some some decent unemployment rates, which I didn't. I didn't. We started looking for you,
seems like ever gone back before them, but between eighteen fourteen nineteen sixty? He said you know, I have noticed that the gross national product rises, three percent for every percentage point, that unemployment falls with the caviar that unemployment has to be between three and seven point: five percent right, which is pretty like spring evolved statement to say I've noticed this is a definite trend. It is came to be called opens law because it was verified. Other Buell poured over the data like this guy's right man, he just keeps coming up with heads, doesn't say and the reason you would want to know some arcane piece of data like that
If you know that that's the case, then you can say well. If we attack unemployment can get it down a couple of points we can, you know, raise GDP Gnp. You know by three percent every time we drop it so when we needed, but both GNP up. Yet we just attack on employment rights, easy pc, Yeah and everyone said thank you- are things without pretty well for a while, but then the nineteen seventy came along and if you, what we're gonna talk a little bit about stagflation now, but if you ever heard it we have a pretty good episode was, I think so called what is stagflation from February twenty four two thousand Levin yeah think as far as our economics episodes that it was not that ok, I went back and listen to a lot of it I'll kick your before. I get bored
so checks out in the first three minutes. Regrets but yeah go back and listen to that. But I, like you, said he served as chairman of the sea April Johnson, nineteen. Seventy three very unfortunate happen, that kind of initiative rocking the world and the United States in particular with our economy. So we have to break and we're gonna talk when we get back the Middle EAST new year's resolutions are very, very difficult to keep. More exercise save more money. What about this? We have a resolution that you can really work with stop wasting time going to the post office that right, you stamps dot com instead because they bring all the services of the. U S: postal service, right to your computer, with your small business, sinning invoice,
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and two years old, I am negative, three, the of oil embargo happened right, that's right! So, at the time until very recently, the U S super dependent on foreign oil, yeah like like other countries, we wouldn't even sit down at the table with we were getting oil from right. Yet what we were doing better now here with our dependency, but back then there very calm, and it was, it was a source of anxiety for a lot of
well in their anxiety, actually pan out so in seventy three Egypt in Syria and a few other arab nations invaded the Golan Heights and the Sinai Peninsula to attempt to take back land from the state of Israel. I drank the. U S was found to be supplying arms to Israel. So as far as the arab states are concerned, the? U S a cast its law on Israel side and they were fairly peeved about it, so they litter. We shut off the tap of oil flowing to the United States and other countries that were found yet considered to be on the side of Israel in this in this war, huge deal it was an enormous steal. The this foreign dependency in the precarious situation that it places the United States and came to pass and the price of
arose thirty, seven percent. The long lines of the gas station were never seen before or since, even after the financial crisis of two thousand eight year, it was just in Saint. There is gas rationing in the United States and ninety seven because the oil embargo and after a while the tax return back on, but that shock to the system screwed the economy. At first decade, yeah inflation went out of control and of a very another, unfortunately happened along the same timeline. Unemployment started creep up, and these two things happening at the same time is devastating yet and up to this point so, first of all the: U S had never had a shock to the system like that there was one thing: there wasn't a gradual thing, no like over a year.
Is when you have something that has never happened before you can look at it and say why? What what happened in new things that have never happened before come out of that and want to things, was inflation and unemployment going up, because at this point the contests just assume that the two were mutually exclusive check if you're a year, if inflation prices were high. That meant that companies could go on higher more people yet so unemployment, of course, would be low, yet economy sets well now and not after the oil embargo shock to the somewhat too, like you said, high unemployment rates and high inflation, and it was miserable time yet and that was called stagflation. It also lead to skateboarding, as we all know, oh here, because the pools right here they come in and count were. Actually, that was the drought, but I think the drought was also tied into the economics
sure, but they couldn't Philip Swimming pools. Undistorted skating swimming pools, oh yeah, the other job. Then you lose your crops and if he was your copy, less money and significant sector of money, exactly so good news we have perhaps now quarter pipe and power for ETA and power and pearl to third, the store and ethics. Getting worse, bad news is, like you said it had a devastating effect for many many years on the United States. Russia can start to look round. He said you not things are pretty bad here. One might even say miserable: I've got any claim for awhile nothing's been named after me and allow so let me create this new, this new method for looking at the economy. That turns out to not be like a look over a period of time. Anything but just sort of like a Polaroid of that day. Not just their day for like the country as a whole or for the
or anything like that, but what he did that was different. Was he looked into what the what it was like that day or that year for the average American? Yes, in their daily life right, Then he called it the misery index yeah and it was very rudimentary at the time it was just simple calculation of the yearly rate of inflation, plus the unemployment rate. Yet so, if you have like five percent inflation and two percent unemployment, you have a seven percent misery and exit the scenarios that no, I got so much in a wild hailed as a big deal, because I think
oh can have a knack for noticing things that seemed obvious in retrospect bright, but at the time no one had ever notice. Before look I'll buy you wanna write, so now he has his index and not only can he look at a snapshot of that day, he can go back because he was a data walk sure he could look at data throughout history will at least to nineteen forty eight year once we started recording unemployment, likely said, which must have been frustrating form because are our inflation rates? Data goes back to nineteen fourteen, that's only part of the equation. Well, I must have been like sure. And to be able to look at the great depression. You can work in a sure When you look back- and he says Here- is what we ve notice- and this is so obvious to me that the president's and political parties are brought in and out of office, largely depending on how the economy is doing yeah.
But they can approved it, but not even just how the economy is doing like he's, he was saying, like the misery index, you can see the civic predict whether the presidency is going to change hands politically so making fifty six misery index is six point five three, which is great. That's during Ike yeah, very low, Mr Eisenhower Present Eisenhower and he got reelected because things are pretty good. As far as the misery and excuse everybody is pretty have, even though they don't really know what the misery index was because I was invented yet right, they just had a general sense, while you didn't call it that at the time that there is a slight seems find me you miserable we like, I know, I'm not miserable. Are you So a nineteen. Sixty eight Johnson came to the end of his term and misery indexes up to
one three, and then he had his democratic successor, Hubert Humphrey online, and because the thing had crept up, people, will more miserable mrs now get out of here. I want Mr Nixon in office right and I guess I'm not sure about the. So I dont understand why Johnson was replaced by Humphrey by the Democrats. I end in this article. It seems to me to be because of this misery index that it would happen. Dick to that, but he was the incumbent president, our ongoing our way termer Felicity, so he was he would have. There's! No, he would hear he was once firmer, technically one in it one and a quarter because he took it. Is this ass, a nation? But if his term was up in sixty eight than he would have won the sixty four election, so he technically, I think, would have been able to have been president again. I'm not sure we get a found. This out do shirt but proper. There's somebody out there who can
plain it to a secure, so email is for you at any rate, Nixon gets elected annum. The the misery index shot up to eleven point six, seven during the first arm, but then started to this decline enough that he did get reelected, but then in nineteen. Seventy, four with Watergate the misery index. Let all the way up to seventeen point, a one this I could now that that was time high the time from what I understand. I think so, and that happened around nineteen. Seventy four, which meant that when Watergate broke, some people who really subscribed to the misery index say Watergate, might not have been quite as big a deal if the misery index have been low at the time right,
he might have been able to squeak by without resigning or vision are forced out of office. I think everyone has more leeway, things or grey sure, but he has his sir. His head, his currency, have been spent men. I watched her all the president's men a few weeks ago, again, you're seen at no great great movie here. I've always meant you really good. I just sort of like they don't make a lot of movies like that in more spotlight reminded me of all around about men, sure I'm just allowing anyone, it's good, it's just. I call it movies for adults, you know there's no Jason's or anything remarkable, just good, dramatic, moviemaking you get stuff anyway, we will try to
what's wrong with Stacy. There's nothin inherently wrong, but I know you re just for the sake of a J scene, which we see a lot of these days in honouring like marker, fellows, chasing a priest in a car like where were we ok, wherewith Nixon one with next year on me for comes in office for a short time and he actually manage to get the misery and ensure down a while. I think just the fact that Nixon was out. I think that probably help near enough and inspire like consumer confidence in the like. So a crept back down to twelve point, six. Six but not enough to keep the Democrats and Jimmy Carter from coming into office. Carter actually cited the misery index. Yahoo is relative long, you at the tire he talk too much about it, because it was a Gee whiz thing
It really does point you like this post this. This is the misery index. You can you. Can you hear me here? That's my butt die with his famous court. Can you hear me impact hot enough to say the least because he talked a lot about the misery index and then, in his term the it reached an all time high at twenty one point: nine eighth yellow which man I really that shocked to this system under the oil embargo in plenty of other stuff, the stuff it's late Carter's feet, I think unfairly in a lot of respects. Well I mean it. I would love for someone to really that really knows there stuff to explain to me exactly how much a president's influence has on the economy.
And how long it takes for that to bear fruit a year. I would love to know it too. I think, though, the guy who came after Carter Reagan is a pretty sterling, unassailable example of an impact a president can have on the account whether you agree with is politics or his right? Economic policies are not. He most decidedly had an effect on the economy. Yeah just remember hearing one time. I need to look this up, but somebody told me once said that the economic impact of the presidential before your term is felt the most like eight years later or somethin,
It makes sense to me economies don't move on a dime. Yes, I don't know if that's harangue, lumbering things. They are fully understood by anybody here. It's interesting to me now more than ever before, though his memory economic system. For me, I know I was really really surprised when you suggested this one that it's slightly more interesting to mean what change? Oh just wondering things like that and during an election seas and the like are the decisions we make now gonna affect us in one year, two years, eight years. Well, if there's any economists who are still listening after that initial remark about the new astrology we'd love to to get a primer on how six for a presidency impact and economy if they do at all and ensure its arrange now, sat like starting at eight years have really honestly was Carter. That ban, or was he a victim of cross stars? I mean that the EU can make a case where a lot of bills of presidencies
having directly at their feet. Don't you remember that either the Simpsons, where they unveiled a statue, Jimmy Carter in Springfield and on a pedestal, says Malays forever in some areas, but Jimmy Carter he's histories greatest monster, before occurred so like we said that came back to haunt Carter because he talked a lot about the index it rose, Alot than Reagan came in was like well. Let's talk about that misery index that you like to talk about so much from the sitting Time high Reagan got in there knocked down to nine point: five five by the end of his term enough to get Bush senior n it insteps, armed and Clinton was able to it didn't go up that. Much though, and I read in article today on whether or not Ross poorer, really got Clinton elected is that's where the popular thought he was a spoiled yeah. I guess you but, he is definitely more in line with some push seniors policies and Clinton's well at the time of year.
Thanks, but I read a red one article. That said, it is kind of a myth that basically the Clinton one by six million votes and it would have taken seventy five percent of parole supporters to have been aligned with thumb with Bush and supposedly exit polls, search, showed it more like thirty, eight to forty percent, and so there San it's sort of a myth that Perot. Won the election. The Clinton I see, but I mean that was one person's opinions. Who knows you know the reading a lot about? You know that we that that suspicion. He can't quite cake that there is really no difference between Republicans and Democrats these days that there really just kind of all in the same little club people feel that way. Sometimes after reading a lot about their apparently, it's
based on NEO liberalism. That's like the key and there's there's a lot of. If you look in the NEO liberalism in the policies of NEO liberalism, you realize were like living in the thick of it, but one ruins kind of blind to the idea that it is a single thing that briskly everybody empower subscribes to write and that it has a m chuckled, unfair, I've screwing over everybody below the top yeah, but just the name itself seems totally fine. You know, but it sir, it's interesting yeah research that little bit later there's little showed Arctic. We totally sugar. Let's do it took a great man. We're gonna get some emails for that one.
From billionaires here, silicious Finnish out this quick little recap: Clinton brought it down to seven point: three: five things are great Bush Junior get selected despite the fact that Clinton hello index well depends on how you look at the two thousand election. We should do when on that one but this is this: is that considered one of those rare instances where riser index didn't indicate where was gonna go, but I could also say it might have sure. Had things got slightly differently in the Supreme Court, George W Bush index rose from some point, three five
one point? Four and then Obama came and went down to seven point, eight, seven, but another weird flaw in the system is expose their because, despite the fact that the misery index was lower, things were not good. The stock market crash unemployment is rising at a rapid rate, and they said you know this. It basically was another example like look. This misery indexes in all its cracked up to be right. So its work on it, yet I think a lot of people said this is too simplistic. You can't rely on this year, How about some of the additional factors that people have worked into the misery and accept the here is about us, which resolutions do you, plan to conquer and twenty twenty become more mindful or creator
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I took some misery index oaken everybody's happy with them through, like this is too simple, especially in which called the post stag fallacious era after the oil embargo. Yet, and so some people said o king, you can either certainly there's other things you can add and to give a genuine snapshot of what the conditions are like on the ground as it were right. Will you not only what the conditions are, but whether or not performance over a period of time is getting better getting worse. Yes and
rather than say, oh under under this president. The misery index was this. You know, and it gives you a pretty good idea that this for this one guy named Robert borrow, he wrote a ninety. Ninety six put called getting it right, markets and choices in a free society and in it he takes the misery index opens misery index and he says we can add some stuff to this too, to make it an even clearer picture, not just of the conditions on the ground, but you can take it and apply genuinely to a president's entire term to see just how, their economic policies were weren't for the health of the economy here and he added some other stuff yeah. He added four main new measurements. The inflation rate during the last year of the present term, compared to the average inflation rate of the entire course of the subsequent president's term, which is based on what you are saying that, like the of a four year term right, the effects are felt like years down. The Roger,
So I think that's what he's doing there yet make sense. I did the same thing with the rate of unemployment that was number two he added and changes for the thirty year Government bond, yield or presidency, and then finally, he said We need to look at the difference between the the long term GDP growth, the real rate of growth rate. Compare all these along with the original this plus. This equals this right in with a real growth rate, and that's where you take the actual change either these shrinking or the growth of the economy the GDP year over year, yet any took every year after year, over the course of our presidency in average, sit out. I guess the trade, and he came up with was called the Barrow Misery Index and a lot of people think that, where the misery and started when, in fact it was open who came
with it about twenty years before Barrow, took it up and improved so under barrows, misery, index Clinton and Reagan. This bill Clinton of course came out. On top getting steed hanky about ten years later. This was originally a ninety. Ninety six, an end hanky came along and two thousand XIX insidious we need to add even more things, and this all this makes sense. You need a few more detailed picture than add more detail to the data going in so he so we need more detail, What do we do this? Let's with men
inflation and unemployment like we're doing and then, let's now add interest rates and subtract annual percentages from the GDP to get a more accurate picture right and he said you can use this anywhere, you can use it all over the world. Well, that's what he did. That's kind of what made his his version of it. Pretty famous. He figured out how to apply it to other countries. Even countries that used a price controls, the people check, which means price inflation is held back artificially. So hanky looked into other things like the exchange rate in the black market in a grand country, that kind of thing any figured out real and action rates and he applied it around the world to find out why country is the most miserable and what countries the least miserable, and what he found it doesn't. Fourteen was that the most miserable country in the world was Venice.
Yeah, which had a hanky misery index of seventy nine point. Four, it's pretty high, very high and in Japan, had, though the lowest misery at five point, four one. Yet U S came in it about nineteen, correct, I think eleven o eleventh year. No, no eleven was our. Oh, I'm sorry, nineteenth yeah, yeah, yeah right nineteenth within eleven rating. I didn't hear that he does. My tooth is still gone, you think I'd be it be more pronounced the th if they were nineteenth ever heard. It clear is about
August can get your soon enough. So there are critics of this one to the other critics of all these indexes altogether. The alarm signal still to elementary yeah, some people say this- is all the stripe like you can't you can't use started to make any real predictions. You could use it to look back, the past, but to use it for the future, probably not, but some people do. You believe in the idea that if you have enough data and the right kind of There you can get a clear picture, misery and again that's what we're after here the whole point of the misery annexes to figure out how unhappy and in just below the average person in a country is feeling at that moment, yeah right, so how PO actually came up with a pretty good one huh.
Blue yea in two thousand and nine. Her father came up with what they called the real misery index right, and so a lot of people cite the the use of what's call you three unemployment districts which, when you hear unemployment numbers in the news, that's what your hearing this with the Bureau of Labour statistics issues as the official unemployment numbers right yet, and that's the very first thing that people will say if they want to pursue the unemployment numbers that these. Are these are false numbers yeah? If someone says a man look out great ex prisoners, doing with the unemployment rate? Is man they're just using you three right? They need to use the use.
Wake up power. The EP in your eye, which, as you know, is valid: what you're, so the b S past six measurements of unemployment. You won through you six and you six is the broadest includes people who are so discouraged with these state of the job market that they give looking for work and are just like you have given themselves over entirely to judge Alex you're right and then they also include people who are working part time but wish they could work full time. But there's no full time work yelling, I'm a graphic designer, but I work at Starbucks. So that's the use, six measurement that, in its considered the the broadest snapshot of unemployment, the real way in of unemployment yeah. I, like you, said mostly. They use you three, I guess consists in the middle
and you won. They would never use you to. Everybody is like an hour. I still like you do. Do you get there? You know not like I used to not propose anything but see that concert they did on the HBO and have to hand it to my big problem with you to four years was, as they discussed so out of control with those live shows like these giant spider spaceships in vain. I was always of the belief that man, you need to go back to basics and just get upon stage and play again here and that's what they did with this new too, I mean those a cool visual element, but the stage set up in the way they did. It was very much back to basics. Unalaska think they really connected with fans again, yet it's kind of help
yeah, because you can only when the when the interactions between you and the faster than the fans and Giants fighters- Yad Edith, economic us so far in that direction. I think they realise that you anyway, maybe go you two other than those guys even though I know everyone in the world generally wants to punch by now in the face. I am not one of them's gonna feel weird. I like him, yeah, I'm on record one of your listening well few Jared Indicators, any any predictor bottles gonna come out to be canonized one day, what oh yeah yeah. I know you like this you don't like it when you know we found out about Jared right and then so now, you're saying by like Bonneted, got somebody like they're going to find a cure for cancer in the saliva somethin. You never know so give even mention what the half bow. What kind of outrage
numbers, they came up with no, what we didn't mention everything they use. We were talking about the you, six measurement, half full use that measurement extreme one of unemployment numbers. They also used other thing like I'm the inflation rate of food and drink and fuel and health care because other the misery and ecstasies is the consumer price index, which is inflation as a whole right? How foe used the the inflation of some? the essential things that people can't do without you and where you're gonna immediately feel the picture and prices go up with those who say that your site, they also included the rate of credit card delinquency, the cost of housing, how many people are using food stamps? That seems like a smart move, slowly, home equity loan defence
CS. I guess people heard laid on their payments. They took the average of the seven numbers and added it to the: u six unemployment numbers which here you can stepped back and say, wait a minute. How would you? How are you adding this together? How does it make any sense adding things right, and it really. You can take that all the way back to the initial misery index. Like point you're deciding unemployment percentage in inflation and all of a sudden, you have a magic number that they make any sense. This half PO metric really points out the inherent fly net. I think yeah because in two thousand eight, the open, misery and excellent eight point one, but how foes real misery and decks a you think things or bad here so that they really are index was twenty nine point, nine converted the eight point one by some people are like a while. It just shows how off the oak and misery indexes yeah. Who knows. I know that quit doing the real misery and exit helpful.
Five years ago- and they go said- the Magna Carta stunt- it was a bit of a stunt, maybe, but I'm sure really what happened was the writer who is contributing it for free, like left, for paying job? That's that's probably what happened is a hopeful, real misery, and
You're. Probably right am. I was reading this guy, a timid man. He is a site or rights for a site and measures has not call inflation data, dot, com, gimmick man, TIM S, brother gotcha, not the superbowl shuffle now his brother, so he he mentioned this two thousand one paper that concluded that unemployment causes one point seven times more misery, then inflation, and so, if you're doing any kind of misery index that uses those two you need. The first multiply the unemployment number by one point: seven before adding to the inflation number two to properly waited yeah like they come up with that. So little paper is actually pretty clever. There's like twenty three years of the survey of
I say this faction and happiness that these researchers looked back in two thousand one and they found that economically based or just like. How happy are you know his thing? It was. How happy are you? It was like a single question. Like would you say, basin you're feeling right now that you are fairly satisfied, unsatisfied very satisfying, life right, not right, and then they took that that measurement for that that country as a whole and you can use for any country that participate in the survey and then they look to inflation. And then they looked at unemployment for those years and they could figure out the the variation between the interplay between unemployment and inflation and satisfaction, and they found there the that that unemployment was one tat, one point, seven times more miserable, then inflation in regards to life size fashion, as serving us pretty clever. It's a lotta, Hocus Pocus, better
I thought I was pretty clever. How they do that makes sense to make is to be without work like if you have a job and things inflation is happening. You still have your job, sharing your like manna sucks to pay this much more, but you can still conceivably Pavia cut back here, they're right, if you, if you're unemployed than my lot hope one that number might be conservative, yeah, greasy very interesting stuff, sir, so that sir, a sick man, that's the misery index beginning us now, but in forty hearing from economists that we too, like an unbiased way, try to explain things me too, if you, if you send us these crazy political emails and that there are going to fall on deaf ears, because everyone else at each other that their right at this one here, some real numbers yet
do check. If you, I know more about the misery and actually can take. Those words in the search bar has therefore that calm and since they said, search bar just plain old search bar listen. I call this follow up and local Brian. Once again, regarding both the bright eyes, you guys were offended because someone said local for I was repulsive, but There is another side to this. Did I suffer from a neurological disorder known as Mr Pony, which we totally should? Usually, I agree as condition where a person as extreme emotional response to come
during sounds remember here, a lot of time dislike people doing noises are gum or whatever he said in my case, might trigger noise of the high pitched at sound. I, when some people speak feels like my brain is cringing, as if an allergic reaction is taking place, cannot stress enough. This is not a mere noise as the legitimate mental disorder that can very great greatly in severity. Visibly forget when it here might trigger noise, but it really kills me inside it gives me an incident had taken which is why I will get away from the noise if at all possible, I believe in avoiding complaining of my complaint victim, but this disorder his may. My life, like a subtle hell, has been especially talk to my family relationships and my ability to learn in school
myself and build email. You guys guys. You definite appreciate interesting medical conditions. They could be a great topic for show someday documentary about a cop quiet. Please. If you watch the trailer, they might be inspired to watch it to learn what the condition is. Oh yeah, huge thanks. Everyone is that we should now you make money, parts of my life, interesting and educational anonymize, us from Texas that in her back them, tax text appears with disbelief. When check said, he had not seen Billy Medicine or Happy Gilmore. That's a gps postscript and host GPS right. At the outset, thing is post postscript people often put vs, meaning
the few Chanel can never become a television show well decks. Never we actually did that. We found out the hard way that a king did a tv show in the sunshine and ran for one full season. The played out over the course of several days, which will always have always have been season television we did want it lasted, manage Indonesia has to show em all at once. Out of order. You never know we might get a another shot. It started, but we're not look into. I like it here, looking away in discussing the track, good idea about the means of funding, and I think we met before There was a really like that local fry episode in that was the one thing that I wish we were mentioned because it is a legitimate thing, does affect some people here Amber yet look for a meter, funnier episode at some point, the teacher text
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Transcript generated on 2020-01-11.