Odd Lots: Americans Are Miserable, and It's Swaying the Election
On this week's episode we look at the intersection of markets, economics, and the U.S. presidential election to examine how the national mood is swaying the vote. The bad news: There are all kinds of signs that Americans are miserable—especially Republicans. Peter Atwater of Financial Insyghts explains why and how this is contributing to the rise of Donald Trump, and to a lesser extent to Bernie Sanders. There's also a warning here for anyone invested in the stock market.
Also, did you know that there's an actual "Misery Index"? Economists have developed a single number that attempts to capture how unhappy a country is, and it has a great track record of predicting U.S. presidential elections. Carl Riccadonna, chief U.S. economist of Bloomberg Intelligence, joins us to explain the measure and tell us what it means for the ultimate outcome in November.
Take a listen and understand why this year's political season seems so wild.