Congress is Better Then You!
Well not really, they just cheat apparently...
According to a study published in the academic journal Business and Politics, a portfolio mimicking the stock purchases of U.S. House members beat the stock market by 55 basis points a month and 6 percent a year...
(See here and here)
I read about this sort of thing several times over the years and it is pretty obvious to the average Joe that these sort of practices are likely common place. I'm certainly not suprised in the least to see it spelled out finally.
This recent article and the accompanying 60 minutes piece just again proves the point that 99% of Congress, and Government as a whole, is shady at best if not flat out unethical and acting illegally.
I mean honestly this is absurd, wtf is the general public doing? Why do we continuely let Congress stick it to the little guy, time after time? And for what? Their superior knowledge and excellent guidance? That's just laughable and the most ridiculous thing I've heard all week. Wake up people!
Everyone in office who doesn't pass a law to remedy this glaring "conflict of interest" situation should be voted out of office. But I'm not holding my breath because we as Americans have become too stupid/uninvolved to care.
P.S. The market is in "no man's land" currnetly, I'm sitting on my recent buys from last month but won't make any moves until we get a more clear direction.