Hey dummies. I mean you. It’s time to pull your money out of your mattress and invest in the stock market. Great values and fabulous opportunities are right there before your nose. Thus saith the Prez, aka the Investment Adviser-in-chief.
President Obama told Americans to take a look at investing in the stock market this afternoon, a remarkable utterance for an American president, especially as the Dow Jones Industrial Average proceeds on its course Southward.
“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,” the president said on a day that trading continued to hover under 7,000.
The president predicted that Americans’ consumer confidence would improve as they see the stimulus bill “taking root.”
“Businesses are starting to see opportunities for investment and potential hiring,” he said. “We are going to start creating jobs again.”
Who needs a private investment adviser when you have The One telling you when to invest? But I still wonder: does his advice hold for General Motors?
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