But no! Today the President revealed what he's up to.
He's been restoring P/E ratios to their proper level so that Americans can invest again. As quoted by ABC, the President 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.
Too bad that the long-term perspective is for higher corporate and individual taxes, including a tax on productivity disguised as carbon cap-and-trade. Incentives to take risks are tough to find in an Obama-led future that focuses on redistributing wealth instead of creating it.
After 9/11 Bush told us to shop. Now Obama is telling us to buy stocks. All we need now is Carter telling us to wear sweaters.
3 comments:
capitalism!
“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..”
huhhh???? P/E is price to earnings - Bush would have been hammered for this "misspeak" boondoggle - was there a "mission accomplished" banner in the background when he said this - anyone take a closer look?
just too much that could be said about that statement on a variety of levels....
Right you are, anon! A "profit and earning ratio" is by definition 1:1, unless there are no earnings.
The difference between a Bush malapropism and an Obama malapropism is that the latter sounds cool when he says something silly.
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