Obama: It’s a Good Time to Buy Stocks
President Obama said Tuesday that now is a good time for investors to buy stocks if they focus on the big picture.
The Dow plunged Monday to its lowest level in 12 years.
“What you’re now seeing is a profit and earnings ratios get to the point that buying stocks is a good thing if you have a long-term perspective on it,” he said to reporters after meeting in the Oval Office with visiting British Prime Minister Gordon Brown.
That sounds very familiar. Let’s access the ol’ mental jukebox….ah, yes, Fred Waring and Pennsylvanians from 1932 with an Irving Berlin song called “Let’s Have Another Cup of Coffee”:
Just around the corner,
There’s a rainbow in the sky,
So let’s have another cup of coffee,
And let’s have another piece of pie.Trouble’s like a bubble,
And the clouds will soon roll by,
So let’s have another cup of coffee,
And let’s have another piece of pie.Let a smile be your umbrella,
For it’s just an April shower,
Even John D. Rockefeller
Is looking for the silver lining!Mr. Herbert Hoover
Says that now’s the time to buy,
So let’s have another cup of coffee,
And let’s have another piece of pie!
Back in the 1930s the shanty-towns of homeless people were called Hoovervilles. Perhaps tomorrow they’ll be called Obama-villes, or maybe just “affordable housing.”
How the heck would he know? He’s been showing us almost daily that he has no grasp of economics and no respect for investors.
Oh wait, I put it through Babelfish and got it translated. Obama was actually saying, “Please, please, please bail me out!!”
profit and earnings ratios
I sincerely hope he simply misspoke. Wow, I knew what a P/E ratio was before I left high school. Bet you did too, NW.
The only P-E I was interested in back then was Phys Ed, and how I could get out of it.
I like “Obama-Cabana”. Kind of has that socialist love fest feel.