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Week of February 22, 2009 - February 28, 2009

Krugman says "It's the Banks!!"


This time it's not "the economy, stupid!" It's the banks! How can we get Barack Obama, who is doing such a good job in so many areas, to pay attention to Paul Krugman, who is very worried about our government's plan to rectify the banking situation.

http://krugman.blogs.nytimes.com/2009/02/26/feelings-of-despair/

Chris Matthews calm down


As Josh points out Chris Matthews is saying tonight on Hardball the Dow is Obama's scorecard and the Dow is tanking. People are getting mad.  No, Chris, as Paul Krugman points out in his blog when the E (earnings) in the P/E ratio goes down the P (price) goes down to keep the ratio historically reasonable. So, until earnings (that's what the stimulus is about) go up, stock prices won't go up.  So Chris (Hardball, Big Mouth, but Softhead) calm down.
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