What Recovery?

Federal Reserve Chairman Ben Bernanke said late last week that the nation’s economy is on the rebound and that the recession is “very likely over.” The Associated Press also reported that the nation’s leading economic indicators rose for the fifth straight month. But here in California, it’s hard to find positive economic news. The state’s economy remains in the doldrums and there are some indications that things could get worse before they get better as unemployment continues to rise and the housing market shows signs of tanking again.