Yesterday’s elections were a mixed bag for Democrats. There were positive results for liberals on three key ballot initiatives they cared most about. While the night was generally good for progressive policies at the ballot box, it was not as good a night for Democrats running for office.

The Credit Union National Association, the leading trade group for credit unions, reports 40,000 new accounts on November 5. This is 24 times the normal rate of membership increases for the industry in 2010, and two times the rate of membership since September 29, after the major banks tried to increase fees for using debit cards.

If the Euro Nations suffer a financial collapse, it could push the US back into recession. Italian borrowing costs soared again, beyond sustainable levels, risking that collapse. And there’s still little progress in sorting out the Italian or Greek leadership choas. This is not good.

The National Organization for Marriage pushed a candidate opposing equal marriage in a special election in Iowa, but their candidate lost big.

Dayen gives his assessment of yesterday’s election results. Election Day 2011 is over, and the victories for Democrats – and more accurately, for liberal values – across the country largely shared a characteristic – they were successful defensive actions to stave off extremely draconian conservative objectives.

Just filling in today. Italy’s borrowing costs rose to over 7 percent, the level supposedly unsustainable it it stays that way.  Berlusconi promises to resign, but even that won’t fix this. Greece is still looking for a new leader for the coalition assigned to complete the country’s economic strangulation. Virginia’s legislature may become all GOP, [...]

So, last night: 1. The “unholy alliance” of dirty fucking hippies unions and the middle class sent Pundit/Governor John Kasich down to crushing defeat in Ohio…overwhelmingly. “It’s clear the people have spoken,” the humbled Republican leader said from the Statehouse… ” And as a result of that, it requires me to take a deep breath [...]

Joey Ess — The Dirty Fucking Hippies Were Right.

Herb Cain promises to dance and make love and reminds us that “you can’t police your underwear, all you can do is give that woodchuck a tuna melt.”

Just because there are no federal elections going on, doesn’t mean nothing’s at stake today.