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The New Misery Index December 19, 2009

Posted by Michael in Economics.
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Just invented at Moody’s by an analyst who tracks sovereign risk.

The index adds together a country’s budget deficit, as a percentage of gross domestic product, and its unemployment rate. It captures the current conundrum for many countries: their economies need stimulus, but their budgets may not be able to afford it.

via Off the Charts – These Days, Countries in Misery Have Lots of Company

Not afford?

Not afford ?!?

That’s a concept our current government just doesn’t comprehend.

Click to enlarge.

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Comments»

1. Pupster - December 20, 2009

This post finally got you that hit from the Solomon Islands, Michael!

http://tinyurl.com/yzvug2g

Nice one man.

2. lauraw - December 20, 2009

Pretty interesting chart. But it is misleading.

Check out Iceland. They should have put an asterisk next to it, indicating the start of JackM’s Great Puffin Offensive in 2006.

Otherwise people will get the wrong idea that Iceland is struggling because of the general global recession, and not because of mind-controlled puffin saboteurs.

3. Michael - December 20, 2009

I miss the Great War To End All Wars against Iceland.

Back then, I felt like my life had meaning. I hoped that someday I might have the privilege and honor of participating in the hanging of Bobby Fischer.

That’s all over. Fischer died of renal failure almost two years ago.

4. Michael - December 20, 2009

It’s pretty funny how JackM’s war against Iceland at LfDR eventually lodged at AOSHQ and turned into the general vilification of Scandis, to this day a staple of jokes in the moronosphere. I suspect that there are relatively few people who know how that got started.

You have to credit JackM with some comic genius. It would never have occurred to me to pick a fight with Iceland and provide the rationale for this being a just war.

5. Michael - December 20, 2009

Iceland, BTW, was indulging in a binge of risky banking practices that makes Lehman Brothers look staid by comparison. They were temporarily enriched and a global financial powerhouse, but the house of cards got flattened in Iceland by the recession faster than anywhere else on the planet. All three major Icelandic banks failed and were nationalized, with repercussions throughout Europe. They are still suffering the consequences.

6. Nan G - December 22, 2009

Seems more often than not there is deceptive media coverage on the unemployment front.
So, this is a good combo as a ”misery index.”

Just today I saw two tidbit facts what cannot both be possible in one story:
http://www.nbcconnecticut.com/news/local-beat/Unemployment-Calls-Overwhelm-Server—-79834882.html

How can the servers be overwhelmed with callers trying to file for unemployment while the official state numbers of unemployed drop so sharply?

Seems off.
But I never learned the ”new math.”

7. January Unemployment at 9.7%? Unbelievable!! « Innocent Bystanders - February 5, 2010

[…] The new misery index […]

8. No Change in Unemployment, but We’ve Traded Full-Timers for Part-Timers « Innocent Bystanders - March 5, 2010

[…] The new misery index […]


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