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"There is no confidence in the American market right now. But let's go back to something else President Obama said on Tuesday. President Obama suggested that the time was right for Americans to start investing in the stock market again because profits-to-earning ratios were good now, but you gotta have a long-term view here. Well, there is no such thing as a profit-to-earnings ratio. It's price-to-earnings ratio. Now, admittedly, I don't know if it was a rhetorical mistake or if he really doesn't know. He's admitted he doesn't know much about the stock market. Why would he? It's a citadel of capitalism, and he's not interested in capitalism, nor are any of the people who have mentored him, who have influenced him or taught him at Harvard or wherever he's gone to school."
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