The lamestream media loves Obama. When it comes to this man, they lose all semblance of objectivity and their critical faculties, if they ever had any, get flushed down the toilet. Consider Henry Blodget, stock analyst par excellent–though you have to catch him off the record if you want his real opinion–did a cynical piece yesterday saying that well both President Obama and Trig Palin should be disclosing their birth certificates publicly. I like you Henry, I real do, but that’s really, really stupid. Business Insider is a bit like the National Enquirer and Forbes magazine all combined in a single publication.
So when the media classifies Obama as a conservative and smart investor, it is really malpractice. So MSN reported about candidate Obama during the presidential election had dumped some stocks of companies who had made contributions to his campaign:
The 50th-richest senator, with a net worth at the end of 2005 of between $1 million and $2.5 million, has most of his assets in bank and retirement accounts, owning only three publicly traded securities.
All three, two Vanguard mutual funds and a Nuveen closed-end fund, are partly or entirely invested in fixed income securities. Despite providing little opportunity for capital appreciation, they delivered combined returns of around 15% in 2006, only slightly less than theS&P 500 Index ($INX).
“The man is conservative and smart,” says Linda Gadkowski, a financial adviser with CFP Beacon Financial Planning in Centerville, Mass.
Sycophantic worship is what that’s called. Obama has a lot of capital but a completely unimaginative portfolio that requires no research, no knowledge and no gumption. And the media portrays that as conservative and smart. Gimme a break. But the man has shown that he knows little about investing when he said that “profits and earning” ratios looking enticing, recommending that Americans invest in the stock market. So there is no reason to believe that Obama has any knowledge of investing.
While his use of “investment” in the place of “spending” is a huge lie, don’t expect the sycophantic adoring media to ever call him on it. You see government spending is lost, never to be recovered. Investment on the other hand, looks to preservation of capital and a return on investment (“profits and earning ratio”, in Obamatalk). When governments borrow money, they only rarely put the money into anything that will have a ROR. Even its so-called “investments”, which are just subsidies, like ethanol and wind energy, are money losing ventures.