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The Wall Street Journal reports that investors are giddy at the possibility of Republicans finally embracing crude Keynesian stimulus. Isn’t that funny? Republicans have been screaming about government spending for the past eight years, but investors are now pretty sure they’ll happily blow a great big hole in the deficit. I wonder what changed their minds?

Of course, there’s more to Wall Street’s happiness than just that. Thanks to newfound hopes of government spending, bank deregulation, and fat profits for Big Pharma, the stock market hit record highs today:

The moves partly reflected expectations that a Trump administration would push to scale back financial regulation and increase government spending in a bid to boost economic growth….Thursday’s gains came as the president-elect’s transition team promised to dismantle the Dodd-Frank law, regulation that came out of the financial crisis….Pharmaceutical companies also jumped, with some analysts and investors saying drug-pricing restrictions would have been more likely under Democrat Hillary Clinton. Health-care companies had sold off sharply heading into the election.

JP Morgan Chase and Goldman Sachs were big winners today. And bonds are doing well on expectations of higher inflation under Trump. This is all certainly good news for rich people, but I wonder what Trump has in mind for all those rural working-class whites in Michigan and Wisconsin who put him over the top? Oddly, Wall Street doesn’t seem too worried that he’ll do anything at all for them.

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WE'LL BE BLUNT

It is astonishingly hard keeping a newsroom afloat these days, and we need to raise $253,000 in online donations quickly, by October 7.

The short of it: Last year, we had to cut $1 million from our budget so we could have any chance of breaking even by the time our fiscal year ended in June. And despite a huge rally from so many of you leading up to the deadline, we still came up a bit short on the whole. We can’t let that happen again. We have no wiggle room to begin with, and now we have a hole to dig out of.

Readers also told us to just give it to you straight when we need to ask for your support, and seeing how matter-of-factly explaining our inner workings, our challenges and finances, can bring more of you in has been a real silver lining. So our online membership lead, Brian, lays it all out for you in his personal, insider account (that literally puts his skin in the game!) of how urgent things are right now.

The upshot: Being able to rally $253,000 in donations over these next few weeks is vitally important simply because it is the number that keeps us right on track, helping make sure we don't end up with a bigger gap than can be filled again, helping us avoid any significant (and knowable) cash-flow crunches for now. We used to be more nonchalant about coming up short this time of year, thinking we can make it by the time June rolls around. Not anymore.

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