| Trust in elected officials has been in steady decline for decades. It’s hard to decide if members of Congress and other elected officials are self-serving or civil servants. One thing is certain—many are getting richer while in office. They are investing based on insider knowledge. If you or I did that, we’d go to jail. If you are in Congress, it’s perfectly legal. Matt K. Lewis just released a book on this topic, and he pulls no punches. Filthy Rich Politicians explains just how badly our system is broken and which politicians are the most egregious when it comes to lining their pockets. In this week’s conversation, Matt and I discuss: - Legal trading on insider information. - Politicians’ quest for “honest graft.” - Nepotism: How friends and family get rich. - How much money you need to get elected. - The reason working-class Americans don’t get elected. - The revolving door into the lobbying industry. - The formidable hurdles to a successful third-party campaign. - The merits of ranked choice voting. - Two initial reforms that will make an immediate difference. You can learn more about Matt and his work here: https://mattklewis.com/ Stay informed on the big trends by subscribing to Global Macro Update here: https://www.mauldineconomics.com/go/JM499Z8/YTB Time stamps: 1:05 Is our system inherently corrupt and broken? 2:55 The rich get elected, and the elected get rich. 4:44 Insider information, stock trading, “honest graft,” nepotism, and profiting like Nancy Pelosi. 7:30 What’s behind the reluctance to investigate abuse. 8:12 You need money to get elected, and to make money once elected. 12:18 The surefire way to buy political influence. 14:24 The reason working-class Americans don’t get elected. 15:06 The revolving door into the lobbying industry. 17:20 The formidable hurdles to a successful third-party campaign. 20:38 The merits of ranked choice voting. 23:06 Two initial reforms that will make an immediate difference. #finance #investing #conversation |
Each week, investors and financial professionals around the globe turn to John Mauldin to better understand Wall Street, global markets, and the drivers of the world economy. And for good reason. John is a noted financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher of one of the first publications to provide investors with free, unbiased information and guidance—Thoughts from the Frontline—one of the most widely read investment newsletters in the world.
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