Chart of the Day: September Best Month to Put Your Money Under a Mattress

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UPDATE: It turns out there’s nothing to this after all. Joshua Hedlund has the whole story here.


Here’s the weirdest chart you’re likely to come across today. It comes from a paper by Luc Laeven and Fabián Valencia and shows the starting month of all modern banking crises (i.e., those after 1970). By a huge margin, banking crises mostly start in the second half of the year, and the overwhelmingly most dangerous month is September.

Greg Ip tentatively suggests this might have something to do with the fact that October 30th marks the fiscal year-end for American mutual funds, but he’s not really convinced, and I don’t think I am either. Perhaps we could get a better answer if we grouped crises not by month, but by astrological sign. Are all those September crises in Virgo or Libra? Inquiring minds want to know.

UPDATE: I suppose there are lots of other things that show a similar pattern and thus might be related, but a reader sends along this one, which is sort of interesting. Maybe it’s all about the oil!

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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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