I have no idea if today is a better time to buy than October 7th. The index is 20% cheaper but that doesn’t necessarily make it a better buy. Things could still get much, much worse. Or not. I have no idea what is going to happen to the economy or the market over the next number of months and years. Of course, neither does Barack Obama.
So, while I have no problem with presidents or prime ministers acting as cheerleaders-in-chief for their economies, the notion of them acting as financial advisors to the nation is equally silly on either side of the border.
The first segment of last night’s Daily Show is not unrelated to this discussion.