September 22, 2011

European Economy Hits the Skids

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A single month of data is never cause for panic, but this particular piece of data sure isn’t good news. The advance release of the composite PMI index for Europe fell below 50 in September, which suggests the European economy is now contracting. Outside of France and Germany the news is even worse, and in the service sector both current activity and expectations of future activity are down. There’s just no silver lining here.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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