Biden has ushered in another crisis of confidence, one further in reach and much more dangerous
The mood across the country is palpable. While it’s a totally unfamiliar feeling to some, it’s a feeling that many older Americans never wanted to have again. It’s dreary and uncertain, like a system of dark clouds has parked itself over the country.
I’ve been around long enough to remember the so-called misery index from the Jimmy Carter presidency during the late 1970s. At the time, the misery index was simply the rate of inflation added to the rate of unemployment. But to a country searching for its national identity and a return to peace and prosperity after the assassinations of the 1960s, Watergate and the Vietnam War, it meant much more than that.
Similar to today’s gloomy headlines about the Consumer Price Index jumping 6.2% over the past year – its highest point in 30 years – and reports that a record 4.4 million Americans quit their jobs in September, it’s just a sliver of the entire story.
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