Proof That the Economy is in Bad Shape

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PROOF THAT THE ECONOMY IS IN BAD SHAPE….Like Matt Yglesias, I too don’t understand why the Washington Post would publish a piece on the state of the economy by Donald Luskin. It’s not just that Luskin is a hair-on-fire conservative idealogue. So is Charles Krauthammer, and despite the fact that I think the Post would be better off without him, I understand that Krauthammer carries a certain amount of intellectual heft and appeals to a certain crowd. The same really can’t be said of Luskin, who routinely makes mistakes like not accounting for inflation or discarding data points for no reason except that it helps prove some theory or other he wants to peddle. It’s sort of kindergarten hackishness compared to Krauthammer’s grad school hackishness.

So here’s my guess: the Post wanted to run a “balancing” piece in the Outlook section arguing that the economy was basically OK and Bush had done a good job running it. Apparently no one smarter or more intellectually honest than Luskin — which includes just about everyone — was willing to do it. Which should tell you something.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

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It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

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Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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