Dear Everyone, Please Care Less About the Dow

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Ned Hodgman at the very underrated Understanding Government blog has had it with the media’s unrelenting need to put the stock market at the center of the American economic recovery.

Today’s Wall Street Journal front page headline, scanned this morning over coffee by the Journal’s 1.7 million subscribers, is “Stocks Drop to 50% of Peak.” I’d say we’re better off with 50% of the nonsense we had when the Dow Jones Industrial Average was the default indicator of the country’s economic health.

It’s not just the numbing predictability of the news every day — again with the Nikkei average, again with the S&P 500, and now every morning we’re supposed to care about the stock futures too.

That’s force of habit (and a lack of imagination) from the nation’s news outlets. The real problem is that the Dow Jones Industrial Average is only one measure of prosperity in this country, and certainly not the most reliable. Let’s look back a year or so and see if the Dow’s “peak” was a reliable indicator of anything except the coming crash.

Ned has some suggestions on what might make better indicators of the recovery. Might I suggest Bhutan’s Gross National Happiness?

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Truth #1: The chaos is the point.

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

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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.

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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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