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03-03-2009, 03:11 PM
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#1
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
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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."
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My first reaction was to think "gee, where have I heard that before?"
http://www.reuters.com/article/newsO...52240420090303
__________________
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03-03-2009, 04:38 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,645
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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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03-03-2009, 04:39 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
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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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03-03-2009, 05:18 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 4,203
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Well at least he knows what one looks like.
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03-04-2009, 03:41 AM
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#5
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Recycles dryer sheets
Join Date: Feb 2006
Location: Indianapolis
Posts: 417
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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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03-04-2009, 04:02 AM
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#6
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Recycles dryer sheets
Join Date: Jan 2009
Posts: 170
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His "I encourage you all to go shopping more" moment?
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03-04-2009, 04:02 PM
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#7
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Recycles dryer sheets
Join Date: Jan 2007
Posts: 280
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We need some optimism.
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03-04-2009, 04:10 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,821
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Quote:
Originally Posted by winger
We need some optimism.
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We need a plan that we can be optimistic about.
-ERD50
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03-04-2009, 04:13 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by Payin-the-Toll
Well, I'll have to give the POTUS this---he's got guts, especially to try and call the bottom!
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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.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-04-2009, 04:16 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 6,256
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Quote:
Originally Posted by ERD50
We need a plan that we can be optimistic about.
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Proposal will fly.jpg
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
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03-04-2009, 06:46 PM
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#11
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Recycles dryer sheets
Join Date: Jan 2007
Posts: 280
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Quote:
Originally Posted by ERD50
We need a plan that we can be optimistic about.
-ERD50
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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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03-04-2009, 07:04 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,821
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Quote:
Originally Posted by winger
Sorry. Did I miss the better plan? Was it the one we were on until January 20?
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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
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03-04-2009, 07:26 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
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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, .
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
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03-04-2009, 10:39 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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Quote:
Quote:
Originally Posted by winger
We need some optimism.
We need a plan that we can be optimistic about.
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Some of us need jobs. I will take care of the optimism myself then.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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03-05-2009, 06:40 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Aug 2006
Posts: 2,433
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Quote:
Originally Posted by haha
Well, no wonder he is bullish. He referred to "profit and earning ratio", which as we all know is key in assessing valuations.
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Especially since it's a constant equal to 1.
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03-05-2009, 09:25 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Indeed- anytime is the best time.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-05-2009, 12:08 PM
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#17
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Full time employment: Posting here.
Join Date: Apr 2006
Posts: 880
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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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03-05-2009, 12:23 PM
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#18
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
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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.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
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03-05-2009, 12:57 PM
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#19
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Recycles dryer sheets
Join Date: May 2005
Location: Newport Beach
Posts: 122
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Quote:
Originally Posted by Leonidas
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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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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03-05-2009, 02:31 PM
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#20
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gone traveling
Join Date: May 2008
Posts: 3,864
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Quote:
...and here all along I thought he couldn't find his bottom. I stand corrected.
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