Shrub the Babbling Idiot opens his yap again...and market dives. The comments this morning are classic....Shrub the Crook giving advise on the value of stocks...
Actually what he should have said is...First you get yourself born to a Vice-President and then President, then get crooked business executives to hire you as their token idiot and give you free stock, and then you get inside information and sell your stock and break the law doing it and this makes you not only a crook but someone that gives good stock buying and selling information..
"Monday July 22, 1:10 pm Eastern Time
Bush Expresses Skepticism On Stock Brokers
WASHINGTON -(Dow Jones)- President George W. Bush expressed skepticism Monday about the advice stock brokers give their clients, saying Wall Street does what is in its own best interests.
"I'm not a stockbroker. I'm not a stock picker. My attitude to Wall Street is they'll buy you or sell you, depending upon if it's in their interests," Bush told reporters before a speech at Argonne National Laboratory on Homeland Security.
Instead, Bush said that investors should concentrate on finding value in the stock market and that he believes stock values are improving.
"When I used to watch the stocks, I was in Midland, Texas , somewhat skeptical about what was taking place on the floors of these exchanges. But I know, I always knew, that you needed to buy on value, that the price relative to the earnings of the company needed to be in line with what they considered value. And I believe that values are improving," Bush said.
Bush said he based his optimism on the fact the underlying economy is showing new strength and the economic environment is improving.
"The platform for growth is in good shape. Inflation's low; monetary policy's sound; fiscal policy is sound; productivity is up; orders for durable goods are up. We've got the platform for growth. And when the values get there, you'll see the market go back up," Bush said.
The president also expressed confidence in Treasury Secretary Paul O'Neill and said he believed WorldCom's bankruptcy was priced into the market. |
