The Boston Globe, March 2nd, 2003
ARE YOU BETTER OFF TODAY THAN YOU WERE FOUR YEARS AGO? IF RONALD REAGAN ASKED THIS QUESTION TODAY, THE ANSWER WOULD BE A RESOUNDING "NO." JUST HOW MUCH WORSE OFF ARE WE TODAY? To answer that question I've constructed my own version of the misery index, and the results are jarring. In January 1999, the misery index was (-) 27 percent. (better termed a joy index when the number is negative). By January 2003, the misery index had leaped to 101 percent. The misery index is the sum of seven components. While we are better off in some of these components - mortgage rates and housing affordability - ...
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