That wacky Misery Index

As the token mathematician on the panel, I think it's my duty to talk about Kerry's "Misery Index" that came out today. A few thoughts...

1. We don't need an index to tell us that the economy is bad. Any idiot on the street will tell you that. Is he trying to quantify just how bad it is? People can look at unemployment figures, gas prices, stocks, home ownership, anything. I don't see the point of putting a number on it.
   
2. Lies, damn lies, and statistics. People who don't know anything about math will tell you numbers can say anything. That's not exactly true, but this is: you can invent a statistic to show nearly anything is true. A while ago, someone invented a statistic to show Barry Bonds in 2002 had the best single season in baseball history. So? I can invent a statistic to show that Einar Diaz is the greatest ballplayer ever. It's a simple fact that a statistic invented specifically to show something is meaningless.
   
3. It could backfire. Let's say Kerry is elected president, and the economy gets better in every way...except according to his own index. Wouldn't that look bad? It's like "Yes, the Republicans were bad, but I'm even worse! Vote me in 2008!" This probably won't happen, though. I'm sure he picked things to put in the index that only a Republican president would do.
   

All in all, it's probably not a bad move, politically. Some people who didn't realize the economy was bad (who are these people?) might believe his statistic. Seems like a waste of time, though.