Archive for the ‘P/E ratio’ Category

Voters’ Obama Folly Coming Home to Roost

March 11, 2009

It’s only been 7 weeks since the man whose resume fits nicely on the back of a postage stamp became the most powerful human being in the universe.  As Presidents go, Barack Obama has proven at least one thing true:  change is like the flip of a coin.  Change can bring the best of times; change can bring the worst of times.  And anyone over the age of twelve ought to have known that.  Instead, 52% of the American electorate has run around like a bunch of howling ninnies for the past year chanting like a horde of Jim Jones’ followers, who can’t get enough of the poison kool-aid.

By Kyle-Anne Shiver
American Thinker

So much for progressive enlightenment.

With an economy in shambles, slinking toward all-out depression a little further each day, the President doesn’t know the difference between a popularity-based political tracking poll and the confidence meter of the stock market, which represents the actual savings and pension funds of millions and millions of ordinary Americans.  Heck, the golden boy of campaign one-liners doesn’t even know that P/E ratio stands for price/earnings, not profit/earnings. 
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If only he had once had a paper route instead of all those pick-up games with the hoops.
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That famed transition team — the team that was given greater inside access than ever in history by a more-than-gracious out-going President, is about to go down as the most incompetent bunch of nincompoops ever produced by a university system.   Those fancy degrees are evidently not worth the paper upon which they’re printed. 
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In a time of mounting economic peril, even as the transition team dithered, one would have thought that fully staffing the Department of the Treasury would have been top priority.  Not for this bunch.  Timothy tax-cheat-TurboTax-challenged Geithner is a one-man Treasury Department and is so out of touch that he spent precious minutes in front of a Congressional panel scolding our own gas and oil companies for damaging the environment, even as a record 31.8 million Americans sign up for food stamps.
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Earth to Tim:  You won’t get the Country out of this mess by slamming the companies that hire us so we won’t need to be on the dole.
Is there a single business enterprise in America that this administration doesn’t hate with a death wish?

Some of those folks now lining up to get food stamps and the like probably worked in the domestic tourist industries that have taken a whack from President Obama.  Every time the President slams a trip by so-and-so from such-and-such company, real people lose the jobs they would have had providing services to these executives….

Read the rest:
http://www.americanthinker.com/2009/03/voters_
obama_folly_coming_home.html

Related:
 No Leadership: It’ll Take More Than Money to Fix This Crisis

The president may not have what it takes

 Obama Doesn’t Understand What Many Americans Are Thinking

All The President’s Men: Where’s The Congressional Oversight?

Economic Situation Demads Nation, Politics With War Mindset

China Provoked Obama; Now Works To Smooth Situation: Why?

Losing Terror War? Al Qaeda, Afghanistan, Iran

Obama Policy On Gitmo, Taliban, Afghanistan, Intel: As Stupid as It Gets

Buffett: Obama not at war; has toxic message machine on economy

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Obama Doesn’t Understand What Many Americans Are Thinking

March 8, 2009

“First of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days.”

Words from Barack Obama?  Hardly.  Those are words from Franklin Roosevelt’s first inaugural address.

See:
http://historymatters.gmu.e
du/d/5057/

I am disappointed in my president, our president.

He has changed some really great rhetoric like FDR’s “the only thing we have to fear is fear itself” into this:

“I don’t think that people should be fearful about our future.  I don’t think that people should suddenly mistrust all of our financial institutions.”

“I don’t think” indicates an Obama-centric view of the financial turmoil of Americans — not a “people centric” view.

And by guessing at what Americans really do fear, “financial institution,” Obama is saying it is these evil “financial institutions” that many of us do fear.

Well, maybe in Obama World and Obama’s White House, people fear financial institutions because they have no understanding of capitalism, business, the stock market and the American dream.

I am afraid that President Obama has no clue….That’s my fear.  And I resent Him telling me what I think.

I believe generally that “the only thing we have to fear is fear itself” and I also believe in JFK’s famous challenge: “Ask not, what your country can do for you.  Ask what you can do for your country.”

I also believe in Ronald Reagan’s exoration: “Government is not the solution.  Government is the problem.”

I am afraid now because President Obama, Nancy Pelosi, Harry Reid and a lot of other well meaning folks think the government is the solution.

America’s founders wrote down the Declaration of Independence, the Constitution and the other parts of our national fabric because they were living in fear of a far off all knowing and uncaring English Government.

And their spirit lives today in the saying, “I’m from the government and I’m here to help.”  Many of us fear such naive, ignorant hubris.

I am starting to fear Washington.  Obama’s Washington.  A far off, all knowing and uncaring government about five miles from my house, which is surrounded by other foreclosed houses.

I really do fear that Obama and many Democrat’s don’t get it.

Just last week, on Tuesday, President Obama, while speaking about the economy and the stock market, mentioned the “profit to earnings ratio.”

And I thought he went to Harvard.  There is no “profit earnings ratio.”  There is a “price to earnings ratio” or PE.  Investors care more about their return on the dollar, reflected in the price they paid and the earnings that resulted.

Tom Petruno wrote in the Los Angeles Times on March 7, “He didn’t get the lingo right, assuming he meant to say ‘price-to-earnings ratios,’ a measure of stock prices relative to earnings per share. That flub caused snickering among market pros.”

See:
Obama, Socialism, Fear, Lack of Confidence: Tanking Stocks, Skyrocketing Debt, Recovery Doomed This Year

I was even more disappointed when the president repeated this ignorant flub in a New York Times interview late in the week.  That meant to me that nobody in the White House was smart enough to straighten out the president by holding a little school call on him.  Or maybe they just don’t know; and don’t read.  They certainly don’t listen.

But they’re thinking about curing all my education and health care problems, undoutedly….

So Obama’s lack of stock market lingo doesn’t mean to me that he slept through high school: it means he has no idea what drives capitalism because he was reading socialist doctrine instead of paying attention to America, as he himself indicates in his books.  Maybe he never invested in anything but himself.

*****

What is wrong with America?  Everything, in Obama World:

“Look, I wish I had the luxury of just dealing with a modest recession or just dealing with health care or just dealing with energy or just dealing with Iraq or just dealing with Afghanistan,” Obama said. “I don’t have that luxury, and I don’t think the American people do, either.”

Related:
From CNN:
http://edition.cnn.com/2009/POLITIC
S/03/07/obama.interview/index.html

Related:
 NYT Interviews Obama; No Economic Recovery This Year
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NYT: After March 6 Economic News, “2009 is Probably a Lost Cause”

Related:
Obama: Crisis is time of ‘great opportunity’

 President Pelosi?

 Obama, Socialism, Fear, Lack of Confidence: Tanking Stocks, Skyrocketing Debt, Recovery Doomed This Year
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Can Democracy Fail With Obama’s Socialist Help?

*****

It seems to us that the attacks on Rush Limbaugh fromTeam Obama are an effort to tell Americans what to think and what not to think.  This kind of arrogance often manifests itself in unusal ways: Limbaugh’s radio show ratings doubled.

So I really do fear that President Obama and his guys don’t get it….

Democratic Attacks On Limbaugh Boost His Ratings — But He’s Not The Problem

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I fear that the president doesn’t understand that many of us don’t want to pay more taxes, however they are hidden or veiled and whatever thay are for, many of us DO MIND paying for por, even though Chick Schumer thinks we don’t, and many of DO want to further understanding of the good news/bad news behind such huge spending on health care and other Obama projects.  And I certainly DO WANT to understand how all this government debt will degrade American growth and quality of life in the future.  I don’t like sending money for oil to Saudi Arabia and I don’t like sending debt/interst payments to China eaither….

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WASHINGTON (AP) — President Barack Obama offered his domestic-policy proposals as a “break from a troubled past.” But the economic outlook now is more troubled than it was even in January, despite Obama’s bold rhetoric and commitment of more trillions of dollars.

And while his personal popularity remains high, some economists and lawmakers are beginning to question whether Obama’s agenda of increased government activism is helping, or hurting, by sowing uncertainty among businesses, investors and consumers that could prolong the recession.

Although the administration likes to say it “inherited” the recession and trillion-dollar deficits, the economic wreckage has worsened on Obama’s still-young watch.

Every day, the economy is becoming more and more an Obama economy.

More than 4 million jobs have been lost since the recession began in December 2007 — roughly half in the past three months.

Stocks have tumbled to levels not seen since 1997. They are down more than 50 percent from their 2007 highs and 20 percent since Obama’s inauguration.

The president’s suggestion that it was a good time for investors with “a long-term perspective” to buy stocks may have been intended to help lift battered markets. But a big sell-off followed.

Presidents usually don’t talk about the stock market. But the dynamics are different now.

A higher percentage of people have more direct exposure to stocks — including through 401(k) and other retirement plans — than ever.

So a tumbling stock market is adding to the national angst as households see the value of their investments and homes plunge as job losses keep rising.

Some once mighty companies such as General Motors and Citigroup are little more than penny stocks.

Many health care stocks are down because of fears of new government restrictions and mandates as part a health care overhaul. Private student loan providers were pounded because of the increased government lending role proposed by Obama. Industries that use oil and other carbon-based fuels are being shunned, apparently in part because of Obama’s proposal for fees on greenhouse-gas polluters.

Makers of heavy road-building and other construction equipment have taken a hit, partly because of expectations of fewer public works jobs here and globally than first anticipated.

“We’ve got a lot of scared investors and business people. I think the uncertainty is a real killer here,” said Chris Edwards, director of fiscal policy for the libertarian Cato Institute.

Some Democrats, worried over where Obama is headed, are suggesting he has yet to match his call for “bold action and big ideas” with deeds.

In particular, they point to bumpy efforts to fix the financial system under Treasury Secretary Timothy Geithner.

Obama may have contributed to the national anxiety by first warning of “catastrophe” if his stimulus plan was not passed and in setting high expectations for Geithner. Instead, Geithner’s public performance has been halting and he’s been challenged by lawmakers of both parties.

Republicans and even some top Democrats, including Rep. Charles Rangel, D-N.Y., chairman of the House Ways and Means Committee, have questioned the wisdom of Obama’s proposal to limit tax deductions for higher-income people on mortgage interest and charitable contributions.

Charities have strongly protested, saying times already are tough enough for them. The administration suggests it might back off that one.

Even White House claims that its policies will “create” or “save” 3.5 million jobs have been questioned by Democratic supporters.

“You created a situation where you cannot be wrong,” the chairman of the Senate Finance Committee, Montana Democrat Max Baucus, told Geithner last week.

“If the economy loses 2 million jobs over the next few years, you can say yes, but it would’ve lost 5.5 million jobs. If we create a million jobs, you can say, well, it would have lost 2.5 million jobs,” Baucus said. “You’ve given yourself complete leverage where you cannot be wrong, because you can take any scenario and make yourself look correct.”

Republicans assert that Obama’s proposals, including the “cap and trade” fees on polluters to combat global warming, would raise taxes during a recession that could touch everyone. “Herbert Hoover tried it, and we all know where that led,” says House Republican leader John Boehner of Ohio.

The administration argues its tax increases for the households earning over $250,000 a year and fees on carbon polluters contained in its budget won’t kick in until 2011-2012, when it forecasts the economy will have fully recovered.

But even those assumptions are challenged as too rosy by many private forecasters and some Democratic lawmakers.

Many deficit hawks also worry that the trillions of federal dollars being doled out by the administration, Congress and the Federal Reserve could sow the seeds of inflation down the road, whether the measures succeed in taming the recession or not. The money includes Obama’s $3.6 trillion budget and the $837 billion stimulus package he signed last month.

Polls show that Obama’s personal approval ratings, generally holding in the high 60s, remain greater than support for his specific policies.

“He still has a fair amount of political capital, so the public is willing to cut him some slack and go along with him for a while,” said pollster Andrew Kohut, director of the Pew Research Center. “But the public will have to get some sense that the kinds of things he’s proposing are going to work, or are showing some signs that they are working.”

Allan Sinai, chief global economist for Decision Economics, a Boston-area consulting firm, said the complexity and enormity of the crisis make it hard to solve.

“There’s no way to get it all right, regardless of which president is making policy,” Sinai said. “The problem is the sickness got too far. The actions taken, medicine applied, were mainly the wrong actions. So it’s just worse, and it gets harder to deal with. At this stage, there is no easy answer, no easy way out. It’s a question of how we fumble through.”

http://michellemalkin.com/2009/03/07/tea-part
y-on-taxpayer-revolts-in-green-bay-lafayette-olat
he-and-harrisburg/