Maybe, Just Maybe, the Economy Is Starting to Recover

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Is the economy finally getting better? A friend writes in with some anecdotal evidence: his father, who declared bankruptcy two years ago, got cold called by Bank of America offering him a refi deal. What’s more, his brother finally got evicted from his foreclosed house in Riverside. “I’ve told people that the recession won’t end until his creditors evict him,” he writes. “His presence in the house was a sign that the house can’t be sold. Well, my brother is getting evicted next week.”

Karl Smith has some anecdotal evidence too, but he also has some statistical evidence to offer. According to the BLS payroll series on employment, job growth has been pretty flat for the past year (that’s the red line). But the household survey tells a different story. From a near stall in June, employment growth has been accelerating steadily for the past year and is now up to nearly 250,000 new jobs per month. So maybe the economy is doing better than we think.

It’s worth noting that none of this matters much for the election. If the economy really is poised for takeoff, it will come too late to do Barack Obama any good. For now, this is just something to scratch our chins about.

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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.

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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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