Between now and next year's Presidential election, we're going to hear a lot more about the Misery Index. It will become an important political issue.
Reuters reports that the unofficial gauge of human misery in the United States rose last month to a 28-year high. Rising inflation and high unemployment are taking their toll. That's inevitable because the index, popularized by Ronald Reagan in the 1980 presidential campaign when misery under Jimmy Carter was at a record high of 22 per cent, is actually the sum of America's unemployment and inflation rates.
Things aren't any better in England where the British Misery Index is now sitting at its highest level since 1992.
All this means one thing: gold prices are likely to go through the roof. Not surprisingly, Frank Holmes from US Global Investors predicts that gold prices may double over the next five years. Which suggests that there's a lot more misery to come.