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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.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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