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Obama Urges Americans to Buy Stock, Not to Worry
By
John Del Signore
Published Mar 3, 2009
Modified Mar 3, 2009
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By
John Del Signore
Published Mar 3, 2009
Modified Mar 3, 2009
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The Dow slouched to its lowest point since 1997 yesterday, but President Obama says that's a good thing if you've got some money to play around with on the stock market. While answering reporters' questions today during a photo opportunity with British Prime Minister Gordon Brown, Obama took the opportunity to hand out some investment tips based on the old 'buy low, sell high' maxim: "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 also admitted he doesn't get too upset over the "day-to-day gyrations of the stock market," because he's focused on "the long-term ability for the United States and the entire world economy to regain its footing." Comparing the market to political tracking polls, Obama told reporters, "You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong." So buy stock everybody, but don't blame the vicissitudes on Obama; he has his eyes fixed on some distant spot on the horizon—inscrutable to the untrained eye—when the economy will take its finger out of the light socket and report back to work.
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barack obama
John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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Gothamist is funded by sponsors and member donations
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