The Fear Index

The VIX index is a measure of stock market volatility. When it goes up, it means investors are afraid that the market is likely to swing wildly and unpredictably. Thus its nickname: the fear index.

And, as you can see on the right, the market is plenty fearful these days. Not as fearful as late 2008, when the VIX index broke 80 for a couple of months — at least, not yet — but it’s heading there.

Why? Let us count the ways. Problems in the eurozone. Inflation fears in the U.S. The housing bubble in China. Persistent unemployment. The “flash crash” earlier this month that no one seems able to properly explain. Rising oil prices in the midst of flat economic conditions. Continuing global imbalances that are starting to seem nearly intractable. Mortgage delinquency rates in the U.S. that have risen to nearly 10%. Etc. And fear is the economy’s worst enemy. If it doesn’t abate, panic is next.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

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.

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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.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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