There are plenty of reasons why Americans don’t trust a vast number of their public servants, not the least of which has to do with their uncanny ability to enrich themselves while purportedly working on our behalf.
This is the sort of behavior that bristles the hair on the back of Americans’ necks. It’s antithetical to our political ancestry, what with having defeated the most powerful army in the world at one time in order to keep our tea from being overtaxed. We simply do not have any patience for this sort of overreach.
And that’s why the latest analysis of Congressional stock market moves is so abjectly infuriating.
Both Democrat and Republican lawmakers on average beat the stock market again in 2022, according to Unusual Whales’ annual report.
Despite the stock market having one of the worst years since 2008, lawmakers were able to avoid huge losses in 2022. While the total value of stocks traded shrunk, some politicians, such as far-left Rep. Ro Khanna (D-CA), made more than 5,700 trades in 2022, the report shows.
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In 2022, the S&P 500 was down 18 percent. Yet on average, Republicans collectivity beat the market by 0.4 percent, while Democrats were only down -1.76 percent.
“House Republicans disclosed 1000+ less trades in 2022 compared to the year before. While House Democrats disclosed 1,000+ more trades in 2022 compared to 2021,” the analysis found.
The behavior was bipartisan in nature.
Among the lawmakers who individually performed the best were Reps. Patrick Fallon (R-TX), Debbie Schultz (D-FL), Susie Lee (D-NV), David Joyce (R-OH), and Sen. Gary Peters (D-MI).
Demonstrating this point rather succinctly, the Pelosi family appeared at one point to have made several prophetic stock moves in recent months, causing many to wonder if their position of relative power provided some sort of undue informational advantage.
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