The other day Obama said that it’s probably a good time to buy stocks if you plan to hold for the long term. There’s been a lot of fuss about how the President shouldn’t be telling us when we should buy stocks, especially since the stock market has gone down 25% since he’s been elected.
I have mixed feelings about this. On one hand, it’s important for the President to show faith in the economy, and since people trust Obama for the time being, or at least like him, they may listen to him. But… it really isn’t good to tell people to go buy stock, and then to watch the markets crash even more.
While I believe in the long-term prosperity of America, times are a changing, and I’m kind of thinking we’re going to be stuck in this depression for a while. I worry that people are going to get pissed at Obama if he starts giving stock advice – even if he does say that it’s a good time to buy for the long term.
What do you think about the president giving stock buying advice?