Tuesday, March 3, 2009

Investing 101: As taught by Professor Obama

On Tuesday our Professor-in-Chief declared that now is a good time for investors to buy stocks.

Really? Last time I looked, the Dow is still dropping like a rock.

But his next words are meant to comfort (or should I say placate) us: "What you are 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." I guess by "long-term perspective" he really means "until the Republicans get back in control".

For further reassurance he's also told us "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, they you're probably going to get the long-term strategy wrong." I'm sorry Mr. President, but the stock market has been plummeting since the day it became clear that you would be the Democratic nominee and it's decline only hastened when it was evident you would win the election.

This poor guy is living in fairy-tale land. Only it's the Brothers Grimm version.

Someone please take away his rose-colored glasses before he completely destroys our economy.

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