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Obama: Buy stocks now
President Barack Obama did his best imitation of a CNBC market analyst Tuesday, suggesting this week’s market swoon is a good time to buy stocks.
Responding to a question about the suffering Dow, Obama 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.”
That’s tricky territory for a chief executive. Presidents usually steer clear of dispensing anything that sounds like an Oval Office stock tip, mindful that their very words can shake the global markets. Continue...
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