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And to those requirements, I say, SO WHAT?

Completely agreed that you, I and most other people don't care a wit about some nebulous number such as GDP or some stock index.

But then you say:
People losing their homes...
Real inflation...
People are losing our jobs...

And any reasonable person would know that people are constantly losing homes, jobs and prices are always seeming to go up. So, if you want to be at least somewhat objective about it in comparing today to last year to last decade you probably want to come up with some numerical way to compare the combination of all these things.

It seems that you could create an "economic index" of some sort and when it was positive things are good and when it is negative things aren't so good. I'm sure that there are many of these indices that various people who call themselves economists have created -- they probably all have a pretty good correlation with GDP, but I'm just guessing.

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