Resurrect Capitalism!

March 6, 2009

A Symptom of Financial Illiteracy

Filed under: Obama, capitalism — Tags: , — admin @ 11:03 pm

This Wednesday Obama said in a speech:

“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”

This is a small gaffe but at the same time it is very telling.  Anyone who has ever paid attention to financial markets knows that Obama meant to say “price to earnings ratio”.  Maybe community organizing isn’t good economic experience after all.

economically clueless

economically clueless

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