POTUS calls the bottom?

Status
Not open for further replies.
Leonidas

Leonidas

Thinks s/he gets paid by the post
Joined
May 6, 2006
Messages
2,847
Location
Where the stars at night are big and bright
Obama and Brown chatted with the press today:
"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."
Click to expand...
My first reaction was to think "gee, where have I heard that before?"

http://www.reuters.com/article/newsOne/idUSTRE52240420090303
 
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.
 
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.
 
Last edited:
Payin-the-Toll said:
Well, I'll have to give the POTUS this---he's got guts, especially to try and call the bottom!
Click to expand...

Well, no wonder he is bullish. He referred to "profit and earning ratio", which as we all know is key in assessing valuations.

Ha
 
ERD50 said:
We need a plan that we can be optimistic about.
Click to expand...

Proposal will fly.jpg
 
winger said:
Sorry. Did I miss the better plan? Was it the one we were on until January 20?
Click to expand...

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.

-ERD50
 
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, .:(
 
haha said:
Well, no wonder he is bullish. He referred to "profit and earning ratio", which as we all know is key in assessing valuations.
Click to expand...

Especially since it's a constant equal to 1. :rolleyes:
 
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:confused:
 
Dog said:
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:confused:
Click to expand...
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.
 
Leonidas said:
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.
Click to expand...


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
 
The Soapbox is gone? Could've fooled me...

Maybe the Prez should appoint Cramer as "Minister of Investments". Or tell everyone to buy gold...
 
Perhaps there are different ways to to juice the economy.

One of my favorite quotes: "There is more than one road to Dublin"

It applies to more than just investing.
 
winger said:
Perhaps there are different ways to to juice the economy.

One of my favorite quotes: "There is more than one road to Dublin"

It applies to more than just investing.
Click to expand...

Yes, but that does not mean that *any* road leads to Dublin ("we have to do *something*").

And I'm sure that some of the people in Leinster know that some roads lead *away* from Dublin.

One of my favorite quotes: "You must choose,.... but choose wisely."

YouTube - Indiana Jones and the Last Crusade

"he chose.... poooorly". So understated, perfect!

-ERD50
 
I do not know if I want to take financial advice from someone who does not know the definition of P/E ratio , someone who took the seizures of the market as gyrations. ( and I thought the dumb guy was gone from the White House !) You cannot see your bottom until you take your head out of it.
 
Status
Not open for further replies.

Similar threads

P
The Best Deck Chair on the Titanic?
2
Replies
25
Views
3K
target2019
target2019
G
Buckle Up and Enjoy the FIRE Journey
2
Replies
38
Views
8K
gl.hf
G
imoldernu
Retailing
Replies
16
Views
2K
jazz4cash
J
wingfooted
End of the Beginning - Year 3 of 'Three More Years'
Replies
5
Views
2K
Pbkmaine
Pbkmaine
NW-Bound
FIRECalc and the Hapless Y2K Retiree
2 3
Replies
73
Views
12K
NW-Bound
NW-Bound

Latest posts

Back
Top Bottom