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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.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.