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January 22, 2008
Newsflash: Some People in Kansas City are Upbeat About Economy
Reuters is currently running a story headlined "Many Americans say unfazed by Wall Street woes". So, it's a snap survey, right? A quick poll of a few hundred people around the country asked about how they feel with respect to the current economic weakness, the Fed surprise rate cut, etc.?
No. Instead, it seems a Reuters reporter wandered around Kansas City, Missouri, asking random people if they were, you know, depressed given Wall Street's recent misadventures. And the answer? No, everything's cool, America's great, buy Google, and so on.
I like Kansas City a great deal -- and spend time there regularly with the wonderful people at the Kauffman Foundation -- but it's a baffler why an interview with some random people in a single mid-western city rates Reuters running it as somehow representative of the nation's current economic mood.
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