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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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We've never been very good at being conservative.

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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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