Audacity indeed: Have a look at the Journal’s analysis of the Dow’s performance lately, especially over the last month as we got a good, hard dose of economic Hopenchange, and then bookmark this post in your “Imagine if President McCain had said it” folder. Obama actually had the stones to refer to this as “fits and starts.” Hey, champ? We’ve got the “fits” covered, including another 37-point downward gyration this afternoon. When do the “starts” start?
Be sure to watch until at least 1:50, when he talks about current P/E ratios making stocks a good long-term buy, then read this Megan McArdle post. Tain’t so.