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The Misery Index is an economic indicator created by economist Arthur Okon to measure economic and social cost. It has been higher than today’s level but it’s clearly larger than anyone would like to see. The University of Michigan Consumer Sentiment Index, frequently quoted by business journalists, is also a leading indicator of future economic activity. It too has seen better days. Everywhere you look, it’s one negative after another. Autos, real estate, banks, unemployment, the stock market, the list goes on and on. It’s a miracle we’re still breathing. I often wonder if our alpacas know we are in the middle of a nasty global recession.
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