Sojourner's Blog

May 28, 2010

Invest in Congress

Filed under: Political Economy — brucehartford @ 7:43 pm
Tags: , ,

This month (May, 2010), we’ve seen Wall Street lobbyists showering cash down upon Congress in an effort to prevent any effective regulatory laws from being passed. It all reminds me of something I wrote in 2001 which is clearly still relevant today:

“Since I’m someone who often reads the S.F. Chronicle’s business section my friends consider me a financial expert, and I’m often asked for investment advice, particularly how we aging “Boomers” can prepare for our “golden years.” Stocks? Real estate? Mutual funds? Marijuana/cocaine?

According to a recent PBS Macneil-Newshour report, Enron Corporation contributed $1.8 million to Congressional campaign coffers over the past year, and received $280 million in direct benefits from the “economic stimulus” package. That’s a Return on Investment (ROI) of 1,555%. Which compares quite favorably to the typical 5-10% annual return on mutual funds, the 10-15% savvy investors have been reaping from NASDAQ and other stock markets, or even the 15-20% skilled house-flippers have been making in the red-hot Bay Area housing market. And it’s far more than the 300- 400% profit margin enjoyed by Mendocino pot growers or Colombian drug lords importing blow in wholesale lots.

The conclusion is obvious. Only saps invest in stocks (or, for that matter, cocaine). To make real money, you invest in Congress. Which makes sense, because under our free-market system we have the best Democracy that money can buy. To prepare for our “golden years” I propose that we pool our meager resources, form an investment co-op, purchase some members of Congress, and then let the good times roll. From what I’ve been reading, Representatives are quite reasonably priced these days, and while Senators are, of course, more costly you don’t need as many of them.”

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