Nothin' Matters and What If It Did is John Mellencamp's RIAAPlatinum-certified fourth released album, under his pseudonym of John Cougar. It includes the moderate hits "Ain't Even Done with the Night," which reached #17 on the Billboard Hot 100 as the album's second single, and "This Time," which peaked at #27 as the album's lead single.
"The singles were stupid little pop songs," Mellencamp told Record Magazine in 1983. "I take no credit for that record. It wasn't like the title was made up – it wasn't supposed to be punky or cocky like some people thought. Toward the end, I didn't even go to the studio. Me and the guys in the band thought we were finished, anyway. It was the most expensive record I ever made. It cost $280,000, do you believe that? The worst thing was that I could have gone on making records like that for hundreds of years. Hell, as long as you sell a few records and the record company isn't putting a lot of money into promotion, you're making money for 'em and that's all they care about. PolyGram loved Nothin' Matters. They thought I was going to turn into the next Neil Diamond."
Mellencamp wrote "To M.G. (Wherever She May Be)" in remembrance of his high school girlfriend, whose name was Margie (aka M.G.).
The woman on the album's cover is actress Edith Massey, a member of the Dreamlanders troupe who often appeared in the films of John Waters. Massey was chosen because, as Mellencamp told Rolling Stone in late 1980, "I was looking for a typical heavy woman to convey a lower-middle-class way of living."
The remastered version of Nothin' Matters and What If It Did was released March 29, 2005 on Mercury/Island/UMe and includes one bonus track, "Latest Game," which, according to the liner notes, was taken from the sessions for Mellencamp's 1982 album American Fool.