Summary
At 100 we’d all be happy. Zero inflation, no unemployment, and a zero bank mortgage loan rate. So, to judge the happiness of the masses, deduct the inflation rate, the unemployment rate, and the cost of a housing loan, from 100. The above chart is just this, done monthly from July 1970. The lines indicate dates of previous recesions, 1974, 1983, and 1991. We weren’t f