I wouldn’t buy a used car from this man

It should be clearer every day that President Barry is in over his head.  Watch his Cliff Notes knowledge of economics and the stock market at work here.  Yes, it might fool gullible college students (and overgrown college students well into their 50’s and older).  But it won’t fool us.

For the record, I think he is right and wrong.  He is right, long term the markts are a great investment.  He is wrong, now is not the time to buy.  It’s going to bottom out much more, I think, with a DOW of around 5,000, and unemployment not positively reacting to this stimulus spending and reaching highs of 9-10% before the end of 2010.

If we shift gears, it may get better after then.  If not, more of the same, I suspect.  Wait and see.