Economic Update

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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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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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