Profit To Earnings Ratio Update

clipped from www.northstarwriters.com President Obama does not understand economics. All you have to do is watch his press conference of this past Tuesday to understand that.   He doesn’t understand how wealth is created. He doesn’t understand how and why people earn and receive rewards. He doesn’t understand how and why employment agreements are made and kept.   Of course, this is no surprise to many of us. It was clear during the presidential campaign that Obama did not understand economics. As he talked about the need to “reward work instead of rewarding wealth,” he demonstrated his cluelessness about the relationship between labor and capital – and the crucial need each has for the other. And we will continue to do whatever is necessary in the weeks ahead to ensure the banks Americans depend on have the money they need to lend, even if the economy gets worse.   So let me see if I have this straight. We can’t build a prosperous economy on debt, but a key element of the prosperity strategy is to kick-start lending