Wednesday, March 4, 2009

More Illiterate Gems from Obama on the Stock Market

On Tuesday, Obama spoke about the stock market and his long-term plans. I know he admitted he doesn't know anything about the stock market, and I think he should rather shut up in that case, since every time he opens his mouth we have another crash. Look what he said on Tuesday:

"The stock market is sort of like a tracking poll in politics. It bobs up and down day-to-day, and if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong."

I have no idea what he means by "bobs up and down". Since he took office, it's been bobbing up and down kind of like the Titanic bobbed up and down after hitting the iceberg. There's no more up-and-downs, it's plain DOWN to around 6,700 from 9,600 on Election Day.

And another plain stupid gem from The Anointed One:

"Profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal"

Really? I have no economic studies, and never had too much money to invest, but... what the heck are "profit and earning ratios"?? Any chimp who ever put his money in stocks knows it's actually "price and earnings ratios".

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