Exciting Trade Deficit News

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This is genuinely good news:

The U.S. trade deficit unexpectedly narrowed for the first time in four months in August, with exports rising to their highest level of the year and imports easing despite higher oil prices.

….The decline, the first since May, was a surprise on Wall Street. Economists surveyed by Dow Jones Newswires had expected a further widening in the deficit to $33.6 billion.

The recent resurgence of oil prices had been pushing the trade deficit back up, after a brief dip earlier in the year when the recession sapped demand for imports. However, exports have enjoyed a five-month uptrend, which bodes well for the economic outlook.

As with a lot of other hopeful indicators, there’s no telling if this one will last.  But it’s essential that it does.  Despite what Sarah Palin may think, the U.S. desperately needs a weaker dollar, lower consumption, and an end to the permanent current account deficit.  This news probably won’t get a lot of attention, but it should.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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