Musk looking at politicians making a killing in the market

I believe that in most cases, people running for office in our country are doing so for only one reason… to get rich.

Elon Musk has now announced that is something he is going to start looking at as the head of DOGE.

The Pelosi Touch

When it comes to successful stock traders, Paul Pelosi, the husband of former Speaker Nancy Pelosi (D-CA), has the Midas touch.

Pelosi has seemingly had options on all the right companies at all the right times, with a reported 65% return on investments, outperforming the S&P 500 by a mile.

When you look at the stocks that Pelosi has traded over the years, the companies invested in often benefit from fat government contracts or a move in regulations, all of which were being overseen by Nancy.

The Pelosis always offer up the same excuse… Nancy does not trade, Paul does. So, we are supposed to believe that Nancy and Paul do not talk about the legislation she is working on in Congress.

Congress and Stock Trading

This is not something that is only being done by Pelosi or Democrats, as there are plenty of members of Congress on both sides of the aisle who enjoy some rather hefty returns on their investments.

Yahoo!Finance recently published a report on this, and you would be shocked at how well our members of Congress are doing, usually in industries where they have direct knowledge due to their committees or legislation being passed.

Overall, Democrats' portfolios were up 31%, while Republicans' were up 26%, compared to the S&P, which was up 24.9%. The report stated, "Let's not forget that many of these big tech companies also lobby the very same people that hold company shares. Our politicians may have direct oversight over policy decisions that could financially help or hurt these companies."

Just to be fair to both sides, the trading habits of Rep. Dan Crenshaw (R-TX) have been scrutinized. While Crenshaw is nowhere near the neighborhood of Pelosi, he has been one of the best traders in Congress since taking office, quietly building his net worth, which is now estimated at more than $3 million (Crenshaw was an officer in the Navy, assigned to the SEALs before running for office).

Musk on the Prowl

If you look at Congress, just track members and when their wealth started to skyrocket, and it usually coincides with being elected to office. We often see members enter Congress with a limited net worth, and within just a few years, they are millionaires, or, as Musk put it, they have become “strangely wealthy.”

To that point, Musk stated, “They’ll [the government] send the money overseas to one NGO [non-governmental organization], then they’ll go through a bunch of them, and then I’m highly confident that a bunch of that money then comes back to the United States and lands in the pockets of the people you just mentioned.

“But it is a circuitous route. It doesn’t go directly, but let’s just say that there’s a lot of strangely wealthy members of Congress where I’m trying to connect the dots of, ‘How do they become rich?'”

When you have someone making $170,000 a year, and within four years, they have a net worth of $2 million and have managed to pay off all their debt, something stinks, and I really hope Musk is able to blow this one wide open.