How Do Politicians Keep Getting So Rich?
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- เผยแพร่เมื่อ 14 ก.ค. 2022
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How Do Politicians Keep Getting So Rich? - Second Thought
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Citations and Further Reading:
Average American salary
www.ssa.gov/oact/cola/AWI.html
0.1% of Americans by wealth
economics.princeton.edu/worki...
Wealth increases in congress
www.opensecrets.org/personal-...
Majority of lawmakers are millionaires
www.opensecrets.org/news/2020...
Pelosi net worth
www.opensecrets.org/personal-...
Pelosi investments and returns
jacobin.com/2021/12/house-spe...
www.nerdwallet.com/article/in...
Pelosi says no
ABCPolitics/statu...
Richard Burr’s pandemic article
www.foxnews.com/opinion/coron...
Burr’s stock dump
www.propublica.org/article/se...
Stock dump investigations closed
www.npr.org/2020/05/26/862692... www.npr.org/2021/01/19/958622...
Business insider investigation into insider trading
www.businessinsider.com/congr...
Studies on congress stock returns
www.researchgate.net/publicat...
2017 Public Citizen report
www.citizen.org/wp-content/up...
$3.7 spent on lobbying
www.opensecrets.org/federal-l...
Top spenders
www.opensecrets.org/federal-l...
www.opensecrets.org/federal-l...
Nancy Pelosi $180,000 in lobbying
www.opensecrets.org/federal-l...
$1 lobbied = $760 return
sunlightfoundation.com/2014/1...
⅔ of politicians go into lobbying
www.citizen.org/news/revolvin...
Lawmakers get pay raise for going into lobbying
www.thenation.com/article/arc...
Nancy and Paul Pelosi Visa lobbying/investment
www.reuters.com/article/us-us... www.cbsnews.com/news/new-deta... www.investors.com/politics/ed...
Lobbying
• How Lobbying Became A ...
Revolving door
www.opensecrets.org/revolving/
Insider Trading
• Insider Trading And Co...
Being wealthy going in
www.cbsnews.com/news/why-is-c...
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We don’t let pro athletes bet on games, we shouldn’t let law makers legislators invest into companies
Very valid point
Well put
They generally can't they would trade as a covered investor. Nancy's husband is the investor which is a pretty weak smokescreen, but there it is.
They will just pass the information on to their friends and family.
The truth is stranger than fiction it’s obvious and just plain common sense and real street smart and energy and vibration and universe and true spirit with discernment that sees the deception/deceiving and deviant deeds and corruptions and real rabbit holes on both sides blue democrats and red republican pills of the masons 📘📕……reason I don’t vote it’s been about 17 years it’s by design and hidden in plain sight for us peasants…funny he bring up Nancy pelosi…….if he want to make a valid point bring up the richest politician the number 1 is Mitch Mc Connell and his state is the poorest in the nation go figure not surprised as predicted sad reality
A rich politician in a population rife with poverty is the definition of a failed government.
Millionaires should not be allowed to hold office.
No,that's exactly what Nancy intended .
True. But nobody is talking about it.
@@mariatheresafortunado1427 "Live" radio talk shows are not live at all - there is a few seconds of delay, before it is broadcast - just in case they want to stop what is being said.
Society as whole.
They aren't there to represent you, they're only in politics to represent themselves; the truest statement anyone has ever said on any social media platform.
Politicians, more criminal than the Mafia. They don’t fear they law, because they are rarely punished & worse they keep getting re-elected. Their rich donors remain in anonymity
Two words: Insider Trading
It's very easy to make successful stock picks when you make the laws that affect the prices of the stocks.
Search . ' How the Congress Gets Away with Inside Trading . '
One word. Corruption
Hi 👋! your comment is always worth reading.. I pray God will give you a lot of beautiful days and you know God loves us so much!.... So where are you originally from? I'm Charles and I'm originally from Denmark but currently right here in Alaska
You can't bribe a cop - but you CAN LOBBY a politician.
They make the rules to the game that suits THEM.
Similarly, if you are suspected of committing a misdemeanor, you are carried away in chains. If a politician commits high crime in full view of the public, they get a two-year committee investigation that turns up nothing. At the very worst, they have to resign and take a cushy job with a salary in the millions. Poor them.
Well said!
Shhhh, they’ll find you if you say too much.
You can bribe an entire police department. Epstein did it.
N pay them $50 while we struggle to make $15
When I was a child and had my first contact with politics, I asked my dad:
"Why don't all politicians just do things that help the most people in their country?"
What he answered was as simple as it was mind opening and laid the foundation for my political worldview:
"Do you know any poor politicians?"
Your dad sounds like an absolute chadian.
While there is a good point here, there is a problem: in a democracy, politics is mostly defining what is good for most people! And it is, to out it mildly, not unanimous.
@@arnbrandy Unfortunately, America is not a democracy.
"I'm a kid"
Sounds like your father was far more wise than mine were.
The politicians in Washington may not know how to balance the US spending budget or fix social security but they sure know how to balance their portfolios and retirement accounts.
Please SHARE THIS. EVERYONE. ITS TIME TO STOP YOUR OWN ABUSE, ENSLAVEMENT, AND EXPLOITATION. TELL ALL YOUR FRIENDS AND FAMILY TO TELL THEIR WORKING CLASS FRIENDS AND FAMILIES TO UNITE WITH THEIR COWORKERS AND STAND UP AGAINST THEIR BOSSES/CEO'S AND END THEIR OWN ENSLAVEMENT AND EXPLOITATION BY DEMANDING THE PAY YOU WANT, AND GETTING IT BY REDUCING THE INSANELY HIGH PAY (100S OF TIMES.MORE) THAT CEO'S, AND SHAREHOLDERS GET. ENOUGH IS ENOUGH, SALARY WORKERS DO 99% OF THE WORK AND PRODUCE 99.9% OF THE MONEY YET GET LESS THAN 1% OF IT. ENOUGH OF YOUR OWN EXPLOITATION. STOP BEING AFRAID AND TELL EVERYONE YOU KNOW AND DONT KNOW AND TEAM UP WITH EVERYONE AT UR WORKPLACE. DONT BE AFRAID OR GREEDY. STAND UP AND SHUT THESE GREEDY EXOPLITERS DOWN FOREVER. WE NEED TO TAKE CONTROL OF HOW MONEY IS PASSED AROUND FROM THE TOP 1%. WE ALSO NEED TO PUNISH ANYONE WHO ARTIFICIALLY CAUSES INFLATION BY RAISING PRICES WHEN WE DO GET THE PAY WE WANT (FOR EXAMPLE IF YOU MAKE $40K YOU SHOULD GET $120K BECAUSE ITS EASILY POSSIBLE AND DOABLE FOR MOST CORPORATIONS THEY'RE JUST BEING GREEDY AND $120K A THREE TIMES INCREASE IS CONSERVATIVE), BY PREVENT ING THE PRICE INCREASERS FROM EVER DOING BUSINESS BECAUSE ENOUGH IS ENOUGH. THE FEW HAVE DESTROYED THE WORLD AND OPPRESSED THE REST FOR TOO LONG.
“Show me a man that gets rich by being a politician, and I'll show you a crook.” Harry S Truman
“The US is a one-party state, but in typical American extravagance, it’s a two-party state”
I agree with you so much
Yup and that party is the party of the rich.
So extravagant, not like those boring Japanese with one-party state
but even rich have their differences
take this abortion for example
"It's a big club and you ain't in it." -- Carlin
Those in power will never give up privileges and treats for the sake of human rights. We have to take such things from them.
“Power concedes nothing without a demand. It never did and it never will.” -Frederick Douglass, 1857
Who was it who wrote that power comes from the barrel of a gun? They were right.
@@Matthew.E.Kelly. Malcolm X
@@Matthew.E.Kelly. Mao Zedong
Somehow I feel Mao & X both read the statement in someone else's writings & adapted it accordingly, in their own words.
“She not a vampire” gave me a good laugh today.
Search . ' How the Congress Gets Away With Inside Trading . '
Still debatable!
Silly me, I thought trading pre- knowledge was a felony 😔
Search . ' How the Congress gets away with Insider Trading . '
It is.
...if you're poor.
Two words: Insider trading. It's not complicated.
Exactly
you left out lobbying
Bingo!!
@@jawadiustunda1193 Lobbying is how they get to congress and stay there. Insider trading is WHY they stay there and end up being worth hundreds of millions once they get out.
Don't forget the lobbyists and the kick backs from foreign country aid, Both sides of the aisle are plain hypocrites.
Such a joy to vote for these people; I feel so represented....
Don’t vote for them
Imagine voting for these people then complaining about it.
@@DietTimboSlice in a two party system what else are you supposed to do? Voting for a third party is throwing away your vote aka letting the worse of the two win
@@declaniii6324 its not throwing away your vote when your voting for someone that has real policies, you're throwing away your vote voting for someone just because you think the other person is worse
@@declaniii6324 The reason the Democrats won't move left is because enough people vote for their current garbage platform that's really just blocking Republicans, but they just assume it's because people actually like what they're offering.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
@Jamie Janny Yeah you're right, that's why I had to start Forex trading two months ago and now i'm making benefits from it now.
@Scott Nicole O ' Yes I'm a living testimony of her good work expert Benson Sandra
Mrs Benson Sandra has changed my financial
status for the best ,all thanks to my aunt
Who introduced her to me.
Yeah... That is what we in Scandinavia call "corruption"
That's what we in Albania and Italy call "corruption" as well.
what annoys me the most is that many people start screaming as an attack on democracy when they start talking about corruption
Ironically, capitalism, in general, is the opposite of democracy
Or Taxation. :/
I never understood why People hate taxes. The Federal Government can print as much money as they want. Money is really to get people to work without Force but it is on the table. Taxes are needed by States Cities and Local Government. By not wanting to pay taxes or complaining about high taxes you're basically saying Public School Teachers and Staff should work for free. No taxes means You being responsible for protecting yourself all the time. Putting out your own fires. You will be responsible for teaching your own kids. Good luck driving on broken roads and shaky bridges. Paying for private roads.
@@undeadblizzard In a perfect world, I'd agree, but doesn't it suck to hand over your money to corrupt politicians that give subsidies and breaks to corporations that don't don't care about you? I'm tired of hearing about $100M-500M subsidies for football stadiums.
Henry David Thoreau famously refused to pay his taxes because he did not believe in conscription. So when I'm trying to say is, it's more complicated than just providing education and fire services, which we all agree are important.
@@undeadblizzard Yeah, dawg, I don't think roads or school teachers are the reason people don't believe in paying taxes. It's probably more of the corruption, crooked politicians, failed policy, wasteful spending and unconstitutional wars.
It’s honestly baffling how bribing is a legal system in the US!
its not tho lol
@@eliassalmi3930 It is, but they wrapped it in different form
I thought bribes don't happen in developed countries
@@eliassalmi3930 It’s exactly that, packaged in an elegant cover for your consumption.
Not just the US. Sadly basically any country that leaves a way for politians to benefit from undisclosed arrangements or sums of money
Great reporting and editorial.
You don't need 87,000 new IRS agents to go after the very few rich! There's only 538 people in Congress! - Gutfeld
Ouch
So disheartening to be living in the country where it claims you’re free yet we are still captive to a broken system that is almost impossible to win against unless you are just as wealthy as the enemy. So many injustices are done to those without wealth or financial stability it truly is a nightmare to be poor.
The place your describing free from human corruption will never exist on Earth. Live a righteous and holy life and when you die, you can go to the only place that is corruption free, Heaven.
The United States has always been beneficial for the wealthy and ruled by the powerful. The leaders of Congress don't care about the common person, they only care about getting reelected each term.
If you live in the US you are already blessed by OPPORTUNITY! Hundreds of thousands of people would die to cross the border and have a hint of prosperity and hope, they know it's gonna be hard but at least it's gonna be possible. The US is not perfect but pessimistic attitudes on the richest country in the world aren't gonna solve the problems. You guys can literally buy guns in mass and start a coupe against the government, you are free to fix it if you feel it's "broken", other countries find it much harder, think about it...
@@diegoaxexxx123 You are mostly right, but a few things are a little off. This is not arguing, just adding another perspective. There are two main types of thought processes concerning America today and Patriotism. The first is those that are on the left that feel like this country is oppressive and nothing but a bunch of racist, fascist, and all the other derogatory "ist" and "phobics." They base that on listening to teachers who want to indoctrinate their students rather than actually teach them. They have never seen let alone truly felt what oppression really is. Then you have those like myself who study and actually learn real history or that at least have been taught by real teachers who objectively teach real history whether it supports their ideology or not. I was blessed with parents that made my school give me the hardest teachers in school (which I hated at the time). I fell in love with the dedication and selfless spirit of America's Founding Fathers in forming the greatest governmental structure every created. I loved how George Washington who without reservation stepped down from the Presidency even though he could have kept that position til his death. Instead he set the example for all future U.S. Presidents to follow until the chain was broken by FDR. I now see what we have become and the dishonor were doing for those who bleed and died for this once great nation. Now she is about dead. Killed by greedy and corrupt politicians, and radical forces from abroad that hated anyone living free without government interference. I served this country many years ago, and it saddens me to see the state of our weakened military now. Please be sympathetic to those like myself who truly mourn to see what she has become. Instead of unifying leaders, we have those who only want to divide us further and further apart. That is my rebuttal to you. Have a Blessed Day!
Freedom defined by imperialists is just slavery and serfdom.
Let's face it, the American system has absolutely no checks and balances on lobbying
It has barely any meaningful checks or balances anymore, period. That's the whole problem.
Sadly, too true.
We have NO checks and balances, period.
There shouldn't even such a thing as lobby, bribing politician should be treasonous crime punishable by death,
The checks and balances were voted out when lobby money train came to town
"A politician who is poor, is a poor politician." Carlos Hank González ~ Mexican politician (1927-2001)
Thank you for your work
Why would anyone believe that someone in the top 0.1% would have their best interests at heart?
Vote blue no matter who sh*t libs, that's who
Because she's part of the democratic party, which means she fights for democracy, obv /s
@@guy-sl3kr lmao 🤣. Good one. I can't believing there are people out there who think she represents us.
I think it's a desperation thing. If you have to accept that the people making laws about what people may do to you do not care about you, then you're going to spend your whole life feeling alone and victimised. If you maintain the delusion that they are accountable to people like you, it lets you believe that they have a vested interest in your satisfaction and prosperity.
For the same reason people believe that a Walmart stocker in LA is a "coastal elite".
Same in the UK, twenty or thirty years ago, none of them were millionaires, now it seems most of them are.
Thank Thatcher for that...
@@SonsOfLorgar explain why is it Thatchers fault?
House of Lords
@@kevinclasher3160She started the trend of politicians privatizing government services and giving them to their cronies. before that, it was unthinkable. Now bozo is thinking about privatizing the passport office.
@@kevinclasher3160 why don't you ask a historian or librarian about that, because I don't have the time or the means to find you 50 years worth of news archives and books in english when it's not my first language.
excellent reporting
Thanks for sharing this information
"Show me a man that gets rich by being a politician and I'll show you a crook" - Harry Truman
Funny how Truman became VP and then President by doing the same thing to Wallace.
A client of mine is paying a retired US senator 250k per year just to have his name listed as one of the company’s advisors. The guy literally does nothing at all. It has been like that for at least 4 years.
I am sure that retired-senator still has a lot of connections within the senate and/or congress. It is like paying for a celebrity to promote your product.
i imagine the retired old man has some very powerful friends, should a problem arise i imagine the problem gets solved quickly.
Search . How the Congress Gets Away with inside Trading , '
@@T.S.000 exactly, that what you're paying for really
@@kly826 : The company is paying for the endorsement and/or protection (aka bribe).
Well I am glad you asked this question, I can answer it with one word. Corruption.
Very well written, thank you! 🇧🇷⚡️
What's really disheartening is the fact that mainstream media outlets are complicit and don't hold politicians, or any elites for that matter, accountable anymore.
What incentive would they have to publish pieces that tell you about the dirty practices politicians in their country are taking part in, when that would cause tension between them and the government, breaking them off from footage of political events, upcoming plans, and access to the politicians, especially when making those discoveries, gathering the needed evidence, would be difficult, costly, and bring potential lawsuits? Especially this is the case when they can drum up much more controversy by reporting on completely unimportant scandals, and generally report stories that don’t shake the status quo?
The MSM are owned by the oligarchs -- why would they hold the agents of their bidding into account when they're doing EXACTLY what they're supposed to be doing?
That is why politicians generously donate to these networks for "good-faith."
Who do you think own the mainstream media in the first place...
Because those that own mainstream media outlets are in the same class as the politicians. There's a few names for that class: the capitalist class, the business class, the ruling class, and probably some others I'm forgetting.
As George Carlin once said, "It's a bit club and you ain't in it!"
How to get rich in America:
1. Be born to a wealthy family
2. Become a politician to engage in insider trading or do favors for corporations
3. Start a megachurch and scam people for money.
@@dewaldt8104 you sound like you're part of the third point, just not on the rich side
@@dewaldt8104 I mean, by your own admission your anecdotal evidence doesn’t even prove your point. So no. that’s not what any rational person would take away from what you’ve written 😂
@@dewaldt8104 alright….. yet another weird pivot, except this time pointing to something nobody was talking about to prove your already shallow point in the first place. the answer is ‘decades of institutional racism’, by the way, for that last bit
@@dewaldt8104 Being the only person in the thread to bring up race then blaming others for the crime of explaining how race actually affects millions of people is the definition of pivoting.
It's like you preemptively set up an argument to bungle and no one's even launched a statistic yet. You must have some wack-ass conversations too if that's where your mind immediately goes.
You forgot BLM - "Buy Large Mansion" Patrisse Cullours
Good subject. We need to hear more about this subject daily.
We need to hold these politicians accountable for when they only make a 150000 a year become multimillionaires in 5 years
President Harry Truman once famously said “Show me a person who gets rich in politics and I’ll show you a crook.” When he left office, he and his wife Bess went back to their hometown and lived in the same modest home they lived in before he entered politics. He drove his own car and they socialized with the same people in the same places as before. Sounds a lot like today, doesn’t it???😆🤣😂😆
Search . ' How the Congress Gets away with Inside Trading . '
@@rezakarampour6286 I will check that out. Thanks!👍
Except that he was the only person to drop an atomic bomb that ravaged the lives of millions. Nice poor guy!
Also it’s currently not allowed for former Presidents to drive themselves. Literally impossible to go back to normal.
@@suchetachatterjee6089 Honestly, the atomic bombs are way overstated. Something that the atomic bombs overshadow that needs to be talked about more is that the Allied bombings of Berlin killed more civilians than the two atomic bombs.
I've been saying this for years but it bears repeating: the largest problem with government that prevents all other issues from being addressed is corruption. We have to get the money out first. Nothing else can get fixed until that happens.
Citizens United was when we lost any resemblance to a representative government
We need a constitutional amendment requiring publicly-funded elections.
A lot of people have been telling us this for most of our history, and they've all been right. Unfortunately, to most Americans being right doesn't matter nearly as much as forcing other people to do what you tell them to, does.
That's why they made sure that money is the very fuel of politics itself. Getting money out of politics since Citizens United would be like a hole trying to climb out of itself.
@@SpinningSideKick9000 Like...over a century before that actually but whatever.
WOW, THANK YOU so much.
Mindblowing video keep it up
Chomsky said it best years ago. The US has one party. The business party. In that party there are the two factions. One extremist, one not so extremist. But that is about it. However he did make the correct point that small differences can lead to very large outcomes. And one way these money grubbing pols get rich is by stock tips and the revolving door. Going from politician to lobbyist.
Liberals are pretty extremist
The problem is that small differences can lead to very large outcomes and vice versa. Things are done or not done. Yes or no. Nuance isn't possible because we expend all our political energy on just deciding whether something is to be done. When the time comes for planning, it goes to whoever is there. That could possibly be people who know what they are doing, but it could just as easily be somebody's cousin who just happens to have started up a company to take your money.
Then we need to decide whether that was illegal, and if there are no laws, we have to decide whether a law needs to be written. And then the law itself being written is another thing that can't just be yes or no, so it comes down to just outright banning things or doing nothing.
And if this all seems like madness, then thank you! That's exactly what all this bullshit is! The inmates are running the prison!
Washington Post has an article last month about Democrats continue to funds Radical Republicans to win over Moderate Republicans that share many similar views with them.
Thus the extremist here is the one that got help to push further extremist by another party and thus the "threat" will continue as one party move further into extremist while the other campaign on said extremists they created.
Thank you
But he still says to vote democrats no matter what
The Irish language has a word for politicians like this. "Gombín". Someone who wants to make money quickly and easily. Populist politics don't do well in Ireland because if a politician just tells people what they want to hear in Ireland we just scoff at them and call them a "gombín".
over here, we swallow the hook line and sinker 😄
@@go_djentle As if both parties aren't the exact same lol
I wonder why they always oppressed the Irish...too much truth in that country's peoples.
@@kristoffer3000 I think he means con as in con-men, not conservative
haha that's funny, because populism is very popular in the US
Excellent.
Crime. Literally crime.
Every person in the US needs to see and understand the ramifications of this video. Your information is not only "eye watering" (where a person goes from $174,000+/year to $115 million dollars/net worth) and, it is "eye opening."
This only happens when members of congress don't have terms limits... term limits need to be imposed on all members of congress...
We the people need to vote on the average person to work for our interests not their own.
Most people cannot understand how much $115M is and no one can actually grasp a billion anything.
This is known long time. Nothing will change b3cause you so are still too comfortable
it becomes eye watering after it was eye opening.
@@bobbydiaz1813 it's all the money in politics, their should be no money in politics. Many changes as needed:
publicly funded campaigns, a well funded department specifically tasked to deal with corruption, etc.
The "average" american's salary is greatly skewed by the 1%. The median American's salary, or the salary of the average American excluding the 1%, however you want to calculate it, is about $30,000 a year.
For more clarity: median means 1/2 of Americans make less than 30k/yr.
That median statistic also includes Part-time workers such as college students. The real median for full time workers is around 45-50k.
@@abcxyz4975 do college students not need to have enough money to pay the bills? why would it be okay to exclude them? its not like life is any cheaper for them
@@SharienGaming College students typically work part time jobs or in-campus jobs which offer benefits aside from wages. So it can alter the data quite heavily for full-time working people, which is what is relevant when talking about salaries.
Great video. I’m surprised TH-cam hasn’t taken this down.
My God, the absolute corruption.
TERM LIMITS are way overdue for these politicians!!!
It should be term limits on Supreme Court Justice.
@@darrellkevin3283 there already is a term limit. It’s called death.
@@CRman734 🤮🤔😳😁
Particularly those in the Congressional Black Caucus!!!!
@freddy8479
FOR ALL OF THEM no matter what race ,creed or color !!!
Maybe we shouldn't let lawmakers that make laws about stocks invest in the stock market, isn't that a conflict of interest? Making laws that benefit their business ventures is how they get rich.
It's pretty amazing that Mr. Pelosi made a huge Tesla investment and his wife is a politician in a state that was the first to push for green vehicles.
I'm as much as an advocate for green projects as anyone but this is just so blatantly manipulative.
@@RedScareClair tesla is not "green" the real green way to get around is Public transport: trains, metros, trams and trolleybusses. All electric cars do is export the emissions to foreign countries as usual
make stock market as regulated as gambling is
B-b-but it's not a free market if government officials can't be corrupt
Good luck getting this law passed by the same lawmakers
Corruption… plain and simple, rest my case
Thank-you.
In my opinion, politicians should be paid the same or less than teachers in this country. Lobbying should be outright illegal. Age, term, and wealth limits should be set. Serving as a leader in this country should be it’s own reward. Let’s see how many of these snakes still run when you take away all of their incentives
Search . ' How the Congress Gets Away with inside Trading . '
I think it's a double edged sword. A) Lobbying isn't outright bad and is important in a democracy. It only gets bad when there are no real safguards and transparancy laws in place B) I don't believe an age gap is important, but a wealth gap would make things worse. It is easier to bribe a poor man then a rich man.
Actually would be better to increase politicians salaries while policing the "extra curriculars" pay peanuts get monkeys
I disagree. It would force those that are actually for the ppl to the front vs those those to rule w power as egotistical gods. Today those that are for change work for nothing in most cases sacrificing from their own pockets as they create actual change. Lower the pay and the egotistical disappear Bc they can’t look down on others as they claim to be for the ppl.
I totally agree
if there is one thing I took away from my time as an economics student.it is this: "You can beat the market once but not every time. Everybody thinks they are smarter than the market. But when you look at the results in a long term perspective you always end up close to the average market performance." Everyone who is able to best the market performance consistently is doing something shady there is simply no other way statistically.
Search . How Congress Gets Away with Insider Trading . '
Everybody cannot think because a BODY is a DEAD entity
The correct word is everyone
The emphasis is on One
Undertake an extensive reading program to better educate yourself
and study the English language - as you are not yet competent.
Begin by writing an essay on the significance and meaning of the word "One'
Just a weird question so you don't think humans can be that clever to beat a market like how we create markets AI technology etc
@@getsmartquick "the Market" is all the people that participate in the market. We tend to think we are the smartest but there is usually a solid amount of people that are just as smart as we are that also participate in the market. Those people will come to the same deductive conclusions when analysing the trends and future prospects that are publicly available . Stock prices and values are gambling in short term invetments / sales. Long term results are very hard to predict so what you ususally end up with is around the equivalent of the overall average market growth.
Marcet Analysts overvalue their experteese a lot and it is a central part of their job to do so.
@@getsmartquick just to add to @grischa762's comment....Warren Buffet (most famous investor of all time) made a bet with one of the wealthiest hedge fund managers that he could not outperform the S&P 500 Index (average market performace) over a 10 year period. Well that bet has come and gone and Warren Buffet won. If one of the smartest wealthiest and most powerful people on Wall St. can't beat the market then Nancy freaking Pelosi certainly can't. SHADY
Regulatory monopoly = insider trading
Genius investor ,another word for it is insider information
Legal corruption (lobbying, pay for play, huge speaking fees, etc), insider trading (shares, which real estate would be valuable based on policies), self or family member getting cushy jobs like board of director (without any experience or any knowledge), starting wars (so you can steal resources and then kick backs), complicated kick backs (so you don’t get caught), charitable foundations (not just for politicians but rich people to live lavishly and not pay taxes), freebies, etc
Search on TH-cam . ' ' How Congress Gets Away with Insider Trading . '
Great comment.
Randomly, the average income of Americans mentioned here is a little off because of how much wealth is consolidated at the top, it's often more helpful to look at median income, which is significantly lower.
Very true, for a more thorough perspective, it's best to show them both and compare them.
It's $35,000....
It really is so important to hit hard on how much of the wealth is consolidated at the top. It's so disgusting to think how different the median and avg incomes are in the US. It drops a good $20,000...
@@eliw5864 if income was spread evenly every worker would make $757,000....
@@scifirealism5943 income or the total wealth that has been accumulated by every human being who ever lived that hasn't decayed into the entropic winds?
I doubt it's income. Receipts.
Great Video!
Thanks!
This channel is so important thank you!!!
This is the video I’m sending to everyone who tells me to ‘vote harder’. Absolutely perfect explanation of the corruption that decides everything
Tell me about it, they throw the “pick a side.” Thing too much that they don’t bother and do the research to the source of the problem.
Vote anyway but also like protest and shit. not voting is not a form of protest it just promotes the status quo
@@jay15951 so does voting in a two party system,sorry to say it,but we need more choices like more parties .
It's all just pretty gross, but that's nothing new with our system.
Well done ❤❤
They get rich through insider trading and the old fashion bribe. And if we had term limits on congress it wouldn’t be such a problem. Let’s go Brandon!!
This's why the go-to democratic voter strategy of "just vote" doesn't work. It happens to both parties.
So don’t vote and let things just get worse?
You should vote across the board the best person possible. It’s all you can do aside from becoming a politician yourself.
Voting may not be the most affective but it still has it's uses in preventing destructive people from gaining power. It's really all we have when the alternative is unworkable.
The problem isn't that voting is somehow directly harmful, it's that almost everyone will vote and then wait for the person they voted for to fix everything instead of being in any way useful.
Voting makes you think you did something when you didn't, and then you don't do anything else. THAT'S the problem, and it's true about effectively everyone.
@@Fallen_Ninja voting isn't the only thing you can do
@@Fallen_Ninja Ever heard of organizing, or unionizing?
I read in a Jim Cramer book about a professor who tipped him off to a Reagan deregulation. I could not believe that was so legal, he could later put that in his book. Also, I worked for professors who knew politicians and commercial types who grew their wealth due to inside knowledge.
listen 2 his videos on how they manipulate the market using media & that making in on wall st means being as dishonest as possible - he is the lowest of the low
They are above the law. The law applies exclusively to the little people.
Yes but professors don’t make the same salary or have the first hand knowledge that Politicians do and we don’t vote for professors.
I guess Martha Stewart didn't have the right connections or she wouldn't have been sent to jail. Not quite corrupt enough to get away with it.
well done
Lobbying should be illegal
I remember watching a Covert Affairs episode wherein a retired CIA operative is talking to his CIA son about something. Their house was like something out of the old school Dynasty series. A friend thought the wealth was unrealistic for a government salary. I countered that the family likely had a legacy of using government work to insinuate itself into commercial enterprises. They built that wealth over the decades. That is likely the backstory.
It was probably so much looting and kickbacks from all their covert operations.
CIA has a habit of hiring "the right type of people." Someone once criticized this flaw by saying, "When you hire straight out of Yale, operations that involve diarrhea do not happen."
CIA is the worlds largest and most dangerous terrorist organization.
@@user-gz4ve8mw9l The CIA is nowhere near as big as the US military.
Of course, if it's a show, the house is nice for the same reason the people are pretty -- it looks good on TV.
Yes, friends, governments in capitalist society are but committees of the rich to manage the affairs of the capitalist class. -James Connolly
... as if every single country that has turned to communism/socialism weren't filled and blatant with corruption.
Example: Chernobyl disaster.
The government needs to have less power so it's less corruptable. It's not like communist governments are less corrupt...
@@Aleksae_Zhiltsauff Correct so what do we do?
@@Aleksae_Zhiltsauff good analysis, corruption will always be in humanity, no reason to stress over it
No no. Senators are just really good at stock trading😁👍
I've often wondered that.
Term limits would go a long way towards solving this issue.
Members of Congress and their families should not be allowed to buy stock while in office!
It's impossible to apply it to their families. And they can use a proxy. And they can still do this shit even after being in office.
I'm shocked! Politicians are corrupt? Who'd have thought. More surprising: why did we ordinary citizens ever do away with the guillotine?
The way things are going, it might just make a comeback. One can hope...
it like mc ride said it go it go it go it go guilotine
@@jaym10918 Idk, I've seen people saying this for years now. I don't think we actually have enough organising power to make it happen
All politicians are crooks but not all crooks are politicians!
They all are crooks. The problem is the fines for them are different than the fines for everyone else! If the punishment was the same…maybe they would all be in prison.
Two things: campaign contributions (AKA Bribes) and legalized insider trading. IMO, Martha Stewart and every other non-politician who has been convicted of insider trading in the last 30 years ought to have their records expunged…
Or we should lock up greedy politicians who are only in power for personal gain and not the betterment of our society as a whole!
Exactly or just lock up all these crooks and put normal people in offices so an actual change can happen.
@@EastDwaynes It’s way past time for the minimum requirements for elective office in this country to be raised…exponentially.
Nah. Let Congress and them go TF to jail.
Wouldn't enforcing the laws that Stewart, etc., broke be closer to a solution that letting everyone steal at will?
Today, I just want to say that I am so glad I discovered this channel a few years ago. Thank you for providing this valuable information and giving me insight into topics I didn't know much about back then.
check out his friends and podcast!
Second Thought breaks it down so well 🙏
goood job
Simple. Connections.
This has been one of your best productions yet. Tightly narrated and visually backed up.
agree, and a great topic interesting to people on all political sides
@@normalizenatalie I hope so because we face tyranny under wealth. 1000 or so people sit in one class, a tiny sliver of their water boys and agents in a second, the rest of us in a third class.
It’s a game of thrones world.
I always ask people “when was the last time you saw a poor president?” And then I explain the problem but nothing will change unless the masses do something. They don’t know how much power they hold together
Arguably Jimmy Carter. But I’m old.
When I looked into how rich incoming presidents were ,only trump was seriously rich ,way more richer than that woman poloski ,trump went on about the swamp ,he knew exactly what went on and the reason the swamp with the help of collaborators ,the media moguls linked to it all were out to finish his presidency. I believe trump was for real in his belief of his country, he also gave his presidential salary to the veterans. Who in there right mind would have voted for Biden ,hunter and all that sneaky swamp ,Clinton destroyed e mails, nothing done ,bidens son, destroyed e mails nothing done ,poliski ,a person I can't stand and if this is what American votes for ,there stuffed .Only reason Biden won is the swamp ,many you will never know but all in the system together, a conserted effort to make the many despise trump and the fools belived and voted not on Democrats, not on policy ,but hate for trump ,fuelled by so many even Holywood ,when trump was there at that show they were so odious and disrespectful, no president had to ever put up with so much .the swamp will not.let anyone spoil there lucrative power.
Uruguay has a poor president
@@kevinr8258 sorry let me rephrase that, poor American president*
@@michaeldalton8374 yes because the average American has 40K laying around
Great!👀👍
Cicero commented on the lubrication of the hands in the Roman senate 20 centuries ago. The same applies today.
We need to do away with campaign contributions, that is just a legal way to bribe politicians. Give every candidate the same amount of time of TV, print, and radio, then create special social media accounts for politicians that caps how much data they can download/stream and how many publications (ie: social media posts) they can send per week. This will eliminate the need for campaign contributions and even the platform, so the few politicians who want to change the country for the better by representing the working class can have their voices heard and get elected. Add in term limits on all three branches of govt and we would have a significantly more balanced and representative govt.
Mashallah daddy Second Thought has uploaded
Corrupt! That simple, DISGUSTING... put them in Jail
Shameful behavior. American should be standing up and putting a stop to this.
Is she an investing genius, or does she just try to pass bills based on what she's invested in? 😂
If you know (ahead of time) which corporation is going to win the 200 Billion dollar contract, to build the next jet fighter for the Air Force, you can buy that stock and make a killing in the stock market.
@@NotAPacifist825 "bUt mY fReE mArKeT"
@@NotAPacifist825 The founding fathers knew that it was gonna be a problem and didn't do anything cause they couldn't figure out how to stop it. That hasn't changed.
@@NotAPacifist825 No wonder she’s beating Warren, Berkshire is pretty legit at least
@@NotAPacifist825 "What a strange, strange world we live in
Where the good are damned and the wicked forgiven
What a strange, strange world we live in
Those who don't have, lose
Those who got, get given
More more more more"
-Regina Spektor
If most of us are living paycheck to paycheck and the vast majority of us aren't millionaires, how can we claim to be at all a representative democracy if most of our politicians are worth seven figures or more?
It's all a mindgame. We've been raised to believe that wealth is equal to morality, despite all our examples otherwise.
Because of this, we see politicians with their styled hair and designer clothes and we don't look past this. We believe that they aren't unscrupulous. Meanwhile, politicians manipulate us into believing that people poorer than us are immoral and the root of the issue.
This is why immigrants are often blamed, because they're the only people more poor than the working class, so the working class feels justified looking down on them.
For this reason, many Christians don't actually believe the teachings of Jesus. They find it more convenient to worship money
@@SpinningSideKick9000
Because we've been raised to believe that hard work equals success, therefore people erroneously believe that the more money somebody has the harder they must work. They don't realize that the vast majority of wealthy people are born into it, and that most people statistically never rise beyond the class they were born into.
I think what also happens is that rather than getting ahead the floor is simply rising, creating an illusion that is what's happening. People still talk about being a millionaire like it means something the way it did 10-20 years ago when in reality compared to actually wealthy people its pretty much middle/working class.
@@SpinningSideKick9000 immigrants are hated for legal reasons
@@ZombieBarioth it's called the myth of meritocracy.
That’s why it’s just a claim not facts. A claim is an announcement, doesn’t have to be back by facts.
Why they are rich...4 paychecks and free healthcare.
1. Their state pension from service in state government.
2. Their current federal salary.
3. Campaign donations.
4. Insider trading.
5. Free healthcare.
They're crooks. One Mississippi U S Representative went to Washington $300 000 in debt and Magically now is a Multi Millionaire living in one of the most expensive economies ( Washington DC) all on $177000 a year average. Neat trick if you can pull it off legally!
I used to think because our Politicians are so poor so they are so corrupt, but then American Politicians....
I can't send you money or be your patreon but I see all the ads every time I enjoy a video from you. Thank you for this valuable content
Influence peddling, selling favors, insider trading, pay to play and, of course, treason.
Two words: Insider Trading.
I cannot believe we in America let this happen or that the generations who came before let this happen. it's sickening that our "Free" country is ran by oligarchs
Always has been though, since the founding fathers.
U should your ask your mum and dad why they fight to change things or why they quit it would only take 1 gen if people who want change to fix things
Very few times in history have the wealthy not been in charge. Very very few. Money is power, but the reverse is true power is money. Once they get power they get money.
1 gen? No 1 day! They just have to ban stock trading and lobbying and demand transparency.
@@robert23456789 One generation won't change a system that is literally entrenched in every facet of society and controls EVERYTHING. Millennials were stupid enough to think that if they just voted the right way and worked within the system things will change, that somehow, by some miracle, if we just got enough "progressives" into office we could pass sweeping legislation, and mana will fall from heaven. In their minds corporations will gnash their teeth and admit defeat like Swiper the Fox as this new enlightened government signs a piece of paper telling them firmly to stop swiping and will have no power to stop this. That they'll just let it happen and the country will be fixed. What they found through Bernie's campaign was that the system simply will not let them - and Bernie was the tamest of social democrats calling for just the bare minimum that needs to be done, just IMAGINE if they wanted more.
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They never once thought bout how many positions and elections (equating to DECADES that would require), never mind the state senate and house seats of 50 states, never mind the courthouse judges, or half the population that would surely fight them over this. Never mind the hideous corruption and resistance they would face, never mind the blatant fact that the rich will NEVER let the people take their power away without resorting to violence and that this fact is backed up by every instance of oppression in history. Burn the ballot box in your head.
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OH, and never mind that we don't have decades to vote for this utopian peaceful change, because we have less than 30 years before the climate change starts to REALLY kick into high gear. This heat wave right now is just a taste of what's to come. The chaos, war and global suffering thats about to happen is hurtling towards us and nobody seems to care because its not an immediate issue, until it is. People - especially those whose minds are trapped in the voting booth - are so myopic that they refuse to look beyond the next election cycle and only fixate on the immediate needs over the big picture. This is utter stupidity. The electoral path is the most fantastical of pipedreams. We're in fucking 2022 AND ABORTION IS ILLEGAL. We are worse off now than 20 years ago! Does anyone seriously think all of this will change in 20 more years? Because if we're assuming 8 year presidency terms that's only 3 presidents, 6 at most if they're each one term.
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For the love of God people open your eyes!
Imagine if the parliamentary speaker or leader of the supposedly _less_ capitalist major party in another democracy replied to a question about insider trading the way Pelosi did😂 Even conservative capitalists there wouldn't dare do such a thing🤭 Damn man the American political system is such a wreck
By stealing our money!
Hands in our pockets ,favours,inside knowledge and ways you cannot even dream of!!!🇨🇦😄