Chart of the Day: It’s a Small, Small World

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Politico reports that the Obama administration, in the person of Jan Eberly, Treasury’s new assistant secretary for economic policy, is pushing back on the Republican notion that “regulatory uncertainty” is damaging the economy. It’s sort of sad that she has to waste valuable neurons on this, when she could instead be doing actual useful work, but I guess that’s politics for you.

Anyway, her case is here. And part of her case is that the American economy isn’t actually suffering from any more uncertainty than the rest of the world, which suggests that American regulations can’t really be having much of an impact. The chart below shows two measures of stock market volatility, one for the U.S. and one for Europe, and as you can see, they’ve moved pretty much in lockstep during the Obama era.

Which, to make a separate point, is an impressive demonstration of the fact that we live in a global economy, not just an American one. When stuff happens, it affects us all. Keep that in mind when American bankers and Treasury officials keep telling us that “we aren’t very exposed” to a possible eurozone disaster. My guess is that we’re pretty exposed after all, which is a good reason for all of us to hope that Europe gets its act together soon.

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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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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