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ECONOMY CONTINUES TO SUCK….The latest:

Orders for big ticket items from U.S. factories plummeted in August, new homes sales continued dropping and weekly jobless claims jumped to their highest level since the 2001 terrorist attacks.

…Factory orders in August dropping by 4.5 percent — twice the expected rate — and weekly applications for unemployment benefits jumping by 32,000, to a seasonally adjusted annual rate of 493,000.

[New] home sales, meanwhile, fell by 11.5 percent in August compared with the same month a year ago, signaling that the U.S. real estate market continues to slump. The inventory of unsold homes — one barometer of when the market might begin to turn around — rose to nearly 11 months, more than doubled the median supply in 2006.

The fall in durable goods orders included a 6 percent decline in purchases of machinery and a more than 8 percent decline in purchases of autos and auto parts.

More on the housing market here. There’s little evidence that we’re close to a bottom, which is bad news for the bailout bill, since its size depends very directly on just how much further housing prices have to fall.

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IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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