Our Wonky President could do just about anything, right? So no one blinked an eye when Barack Obama morphed into Henry Blodget and started spouting off about price-to-earnings ratios. In other words, buy stocks now!
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 only remarkable thing was how unremarkable Obama's advice was. It's the kind of thing you might read in Money magazine. What would be remarkable is if Obama actually acted on his advice and started buying up stocks outright, like Singapore does when the market gets below government-approved levels. In which case we should really worry, since Obama's stockpicking skills are downright questionable.
(Bizarre Obama-Wall Street metaphor art by Gawker-favorite artist Dan Lacey)