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ECONOMIC UPDATE….The latest economic news might not quite qualify as “good,” but it’s slightly encouraging at least. (1) Germany, the Netherlands, and South Korea are implementing some stunningly large bank rescue operations. (Relative to GDP, all are as large or larger than the U.S. rescue.) (2) Iceland is nearing an IMF rescue plan. (3) Ben Bernanke says a fiscal stimulus plan “seems appropriate.” (4) After a price drop of 33% since their peak last year, home sales in Southern California shot up 65% in September. (5) And Calculated Risk tots up the evidence and says it looks like the credit crisis is finally easing a bit.

Don’t go getting too excited or anything. More bailouts and a long recession are still ahead. But there might finally be a few tiny rays of sunshine on the horizon.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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