Ya gotta love it. You absolutely have to love it.... Obama, yesterday, said: "What you're now seeing is . . . profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it," the president said on a day that trading continued to hover under 7,000."
By "profit and earning ratios," one presumes Obama meant price/ earnings ratios--a terminological mistake that does not boost one's confidence in his investment recommendations. As for the so-called stimulus as confidence booster, suffice it to note that the Industrial Average closed at 7933 on Feb. 12, the day before Congress passed the bill. Yesterday it closed at 6726, a decline of more than 15% in less than three weeks. http://online.wsj.com/article/SB123617892941430079.html How about Bush? In his defense of Treas Sec O'Neill in July 2002: "What's happening is corporate earnings are improving, so that the price/earnings ratios are improving," Mr. Bush said, referring to the ratio between the price a stock is fetching and a corporation's per- share earnings. "And I believe people are going to come back into the market. But listen, I'm not a stock broker. I'm not a stock picker. My attitude on Wall Street is they'll buy you or sell you, depending upon if it's in their interest." http://econ161.berkeley.edu/movable_type/archives/000412.html Ha! What a blithering fool you gimps have elected. Obama needs to pull Bush quotes to learn his job!!! --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
