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POTUS calls the bottom?
Old 03-03-2009, 04:11 PM   #1
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POTUS calls the bottom?

Obama and Brown chatted with the press today:
Quote:
"I think what we're seeing is as people absorb the depths of the problem that existed in the banking system as well as the international ramifications of it, that there's going to be a natural reaction," he said of recent stock market falls.

"On the other hand, 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 longterm perspective on it."
My first reaction was to think "gee, where have I heard that before?"

http://www.reuters.com/article/newsO...52240420090303
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Old 03-03-2009, 05:38 PM   #2
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Maybe this will stop the blood loss? Do you think when the POTUS speaks it will have the same affect as Bernake or Greenspan? Will be interesting to see.
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Old 03-03-2009, 05:39 PM   #3
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Yup. I was really impressed by what was said today! So much that I sold a slug of GE. I do not plan to buy anything right now. That impressed me almost as much as Geithner saying he was going after individuals and businesses that cheat on their taxes! I damn near need to repaint my family room to hide the coffee I blew out while choking. Bernanke was not a fountain of optimism today either in my opinion and he is still dodging too many questions.
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Old 03-03-2009, 06:18 PM   #4
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Well at least he knows what one looks like.
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Old 03-04-2009, 04:41 AM   #5
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Well, I'll have to give the POTUS this---he's got guts, especially to try and call the bottom!
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Old 03-04-2009, 05:02 AM   #6
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His "I encourage you all to go shopping more" moment?

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Old 03-04-2009, 05:02 PM   #7
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We need some optimism.
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Old 03-04-2009, 05:10 PM   #8
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We need some optimism.
We need a plan that we can be optimistic about.

-ERD50
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Old 03-04-2009, 05:13 PM   #9
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Originally Posted by Payin-the-Toll View Post
Well, I'll have to give the POTUS this---he's got guts, especially to try and call the bottom!
Well, no wonder he is bullish. He referred to "profit and earning ratio", which as we all know is key in assessing valuations.

Ha
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Old 03-04-2009, 05:16 PM   #10
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We need a plan that we can be optimistic about.
Proposal will fly.jpg
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Old 03-04-2009, 07:46 PM   #11
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We need a plan that we can be optimistic about.

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Sorry. Did I miss the better plan? Was it the one we were on until January 20?
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Old 03-04-2009, 08:04 PM   #12
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Sorry. Did I miss the better plan? Was it the one we were on until January 20?
My post was simple, I did not compare it to any other plan. I only said "We need a plan that we can be optimistic about."

The plan we have does not inspire optimism, the market has shown that.

If your waiter serves you a wine that has turned to vinegar, do you reject it or do you say "waiter, bring me some vinegar so I can compare it to this bad wine".

Bad is bad.

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Old 03-04-2009, 08:26 PM   #13
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I heard a "Barrons" analyst say today: "Our policy makers remind me of a bunch of drunks in a bar throwing a handful of darts at a target hoping to hit a bulls eye". Not confidence inspiring to say the least, .
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Old 03-04-2009, 11:39 PM   #14
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Quote:
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We need some optimism.

We need a plan that we can be optimistic about.
Some of us need jobs. I will take care of the optimism myself then.
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Old 03-05-2009, 07:40 AM   #15
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Well, no wonder he is bullish. He referred to "profit and earning ratio", which as we all know is key in assessing valuations.
Especially since it's a constant equal to 1.
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Old 03-05-2009, 10:25 AM   #16
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Especially since it's a constant equal to 1.
Indeed- anytime is the best time.

Ha
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Old 03-05-2009, 01:08 PM   #17
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Isn't the market somewhat a symbol of capitalism? Maybe that is why Obama isn't too concerned about the continual decline. Today they are having more "break out sessions" - this time for healthcare. More declines in the market
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Old 03-05-2009, 01:23 PM   #18
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Isn't the market somewhat a symbol of capitalism? Maybe that is why Obama isn't too concerned about the continual decline. Today they are having more "break out sessions" - this time for healthcare. More declines in the market
I don't know what he was thinking when he said that. I was hoping somebody else could clue me in.

Somebody in the administration said something recently along the lines of "we don't care what the market does." Which if that means that they don't cater to the markets and are trying to do the right thing to fix the economy then I'm okay with that. Which raises the question of why Obama would even comment on the markets.

But then I think, what about the "the market is a forward looking indicator on the health of the economy"? That would make the market an important commentary on the perceived viability of his plans to fix the economy. In which case I wonder if he wasn't, somewhat awkwardly, trying to shoot a little chill gas into the never-freaking-ending sellathon going on there. Maybe he was looking for a little sanity to reign, or he wanted some breathing room for things to start working....or he was desperate.

If it's the latter, the only thing I can come up with is: "they don't have a clue what they're doing", which is not the conclusion I wanted.

I didn't vote for the guy, but at this point I am praying and hoping for him to be a spectacular success. I don't care if he's a genius, lucky or magic. He can shoot lucky charms and gold doubloons out his butt for all I care, I would just like to see a little positive action on the economy and the markets.
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Old 03-05-2009, 01:57 PM   #19
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Quote:
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I didn't vote for the guy, but at this point I am praying and hoping for him to be a spectacular success. I don't care if he's a genius, lucky or magic. He can shoot lucky charms and gold doubloons out his butt for all I care, I would just like to see a little positive action on the economy and the markets.

I am not a big Cramer fan, but I agree with his criticisms of the administration. He did vote for Obama.

Cramer: My Response To The White House | News | Money/Investing | Mainstreet
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Old 03-05-2009, 03:31 PM   #20
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POTUS calls the bottom?
...and here all along I thought he couldn't find his bottom. I stand corrected.
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