The US Economy Imploded Last Quarter

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Yikes. In the first quarter GDP didn’t grow by an anemic 0.1 percent. Nor did it shrink by 1 percent. According to the Commerce Department’s final tally, it shrunk by 2.9 percent.

Everyone is brushing this off because other economic signals suggest it was a one-off event. And maybe so. But even if it is, it probably knocks about 1 percent off the full-year figure compared to a more normal growth rate of, say, at least 2 percent. The only way it turns out to be a nothingburger is if this number really is an anomaly and the economy makes up for it with supercharged growth for the rest of the year.

I have my doubts about that. I just don’t buy the tired excuse that the Q1 number was weather related. Something happened.

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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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