Here’s an interesting nugget about how the non-financial world sees the economy.
Hamilton Nolan at Gawker, the popular New York media culture blog, has a big post up about how crappy the European economy.
It ends with this warning:
It’s only a matter of time before the Fed stops pumping money into our economy and we deflate along with everyone else and then the demographic retirement bomb hits and we have fewer younger workers supporting the baby boomer retirees and health care costs explode and everyone’s cranky and hope seems like a faraway dream and all the Europeans are laughing at us. So enjoy this brief moment of self-satisfaction while it lasts.
As Matt Yglesias notes, this is ZeroHedge-like claptrap. But the point isn’t to debate whether Nolan’s take on monetary easing is correct, but just that a lot of these ideas are incredibly popular, even outside the econo-troll-o-sphere.