Oh, why not? On a day when the Dow fell 360 points comes word of a new report by Goldman Sachs economist Jan Hatzius, who believes that California's economy is headed towards recession. Which means the U.S. is headed towards a recession. The state's steadily higher unemployment rate - influenced by all the housing woes - is cited for the dour conclusion. Footnote: L.A. unemployment in September was significantly lower than the statewide figure (5.1 percent vs. 5.6 percent), though that might change with the writers strike.
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