Dow 20,000 Is the Most Unexciting Thing Ever

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As long as we’re on the subject of economic growth, the Dow has been in the news lately because it broke the 20,000 barrier. A lot of people are pretty excited about this, but just to give you an idea of how totally unexciting this actually is, here’s the Dow over the past eight years:

During the Obama presidency, the Dow doubled in real terms. What’s more, its growth has been remarkably steady. The trendline here is nothing fancy, just the default linear regression provided by Excel. The Dow has been growing about 9.4 percent per year, year in and year out. There was a tiny uptick in November, which you can see on the chart, but all it did was return growth to the trendline it had been following for the previous eight years. Since then, growth has returned almost precisely to the trendline.

As for breaking 20,000, anyone with a hand calculator could have predicted a year ago that this would happen within a couple of months of the start of 2017. And it did. It means nothing except that growth is continuing along the same path as always.

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Truth #1: The chaos is the point.

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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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