How Ben Bernanke is Helping Rick Perry Win the White House

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Brad Plumer points today to a Dallas Fed report that, rather amusingly, demonstrates that a big reason Texas has done well during the recession is because of Fed policy. Roughly speaking, most of the Fed’s monetary policy works through bank channels, and since Texas banks were in better shape than most (thanks to Texas’s mild housing bubble), the Fed’s actions were especially effective there. That’s pretty interesting. But for sheer comedy gold, this chart is my favorite:

That “debased” dollar that tea partiers keep screaming about? Actually, it’s not really very debased in the first place. But it has weakened over the past couple of years, and it’s weakened especially against Texas’s major trading partners, primarily Mexico. And the Texas economy has benefited from that.

Maybe Rick Perry needs to send Ben Bernanke a a fruit basket or something?

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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