The US Misery Index Has Fallen To A 4-Year Low

The misery index is calculated by summing a country's unemployment rate with its inflation rate.

With the unemployment rate falling and the inflation rate benign, misery in America is tumbling.

Gluskin Sheff's David Rosenberg says it's a good thing.

"The U.S. Misery Index... has fallen for three consecutive months from 8.4 in October to 8.3 in November, and is now below the long-run norm (so the new normal is actually the norm in this respect!) and the lowest it has been in four years," wrote Rosenberg today.

"So when I'm asked if I have turned more positive on the economic backdrop, and I answer 'yes', this is one of the charts that are on the back of my mind."