Misery on the rise? Say it ain't so! Yet according to a survey out by Calamos Investments, it's true!
On the Closing Bell, Calamos Co-Chief Investment Officer Nick Calamos told Maria Bartiromo the recent financial crisis has outdone the Great Depression in creating 'misery.' The firm's new 'misery' index adds the variable of personal net worth to the traditionally combined impact of inflation and unemployment. Calamos said the results "indicate the initial economic shock of the past year and a half has created a spike in misery more acute than during any other period we considered, including the Great Depression."