The Misery Index

Summary: President Biden’s rebranding of Build Back Better, BBB, as Bidenomics.

The rebranding is a play on Reaganomics. As the saying goes, imitation is the

sincerest form of flattery. However, in this case imitation only extends to

marketing or messaging of the economic program. The policy initiatives of these

two approaches are diametrically opposed.

As the 1970s decade came to an end, candidate Reagan asked voters a simple

question. Are you better off today than you were 4 years ago? Reagan knew the

answer to the question he was asking.?At the time, the commonly accepted

measure of wellbeing among the pundits and the press was the so-called misery

index, a macroeconomic indicator that measures the employment rate as well as

the purchasing power of money.

Given President Biden’s statements regarding Bidenomics, the presumed answer to

the question asked by Candidate Reagan, if asked today, is a simple, yes. But if

that is the case, why doesn’t the President ask and answer the question? The

misery index provides us with a clue.

To view this LJE Report, please click on the link below

https://www.lajollaeconomics.com/reportdetail.pl?reportid=1588

Information contained in or attached to research report is for informational purposes only, does not constitute investment advice, and is not an advertisement or an offer of investment advisory services or a solicitation to become a client of LJE. The information is obtained from sources believed to be reliable, however, accuracy and completeness are not guaranteed by LJE.

#inflation , #election, #economicoutlook

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