Earlier this week, Deutsche Bank put out an analysis of the most woeful countries. In particular, the write up contained a smart little paragraph on a global powerhouse that used to be a darling of the global economy:
Arthur Okun’s misery index sums unemployment with inflation as a measure of hardship – at least for the man on the street. Suffering politicians, meanwhile, are in serious trouble when they join the so-called Calamitous Club. Membership – reserved for governments whose poll ratings are below their country’s inflation rate – is exclusive. Indeed, until last week only Venezuela’s ruling socialists made the grade. No longer.
The piece was part of a broader note, authored by UK-based managing director Stuart Kirk. Here is where the juicy part begins: