House Speaker Nancy Pelosi’s husband must not be having the success with his daytrades that he once was. Otherwise, we can’t think of any other reason for Pelosi to come out last Friday and state in London that capitalism “has not served” the U.S. economy as well as it should.
“In America, capitalism is our system, it is our economic system, but it has not served our economy as well as it should,” Pelosi said according to WaPo. “So what we want to do is not depart from that, but to improve it and to make sure that it serves us.”
The statement is ridiculous on a number of levels, not the least of which is that Pelosi and her husband have been partaking in the system – exactly as it exists today – by executing meaningful options trades in U.S. listed public companies, many of which have had “interestingly timed” runs of fortune since Pelosi’s involvement.
Pelosi’s criticism of capitalism was that it had “historically allowed workers’ wages, as well as management’s, to rise alongside productivity”. We wonder if she has taken a good hard look at the effect of the ongoing Democratic government dole on productivity as well?
Doing her best Karl Marx impression, Pelosi said: “You cannot have a system where the success of some springs from the exploitation of the workers and springs from the exploitation of the environment and the rest, and we have to correct that.”
Pelosi said that the economic shift has been to “shareholder capitalism” which caused “employee salaries to stagnate”.
So naturally we’re expecting that Pelosi will dump all of her investments where her and her husband are “shareholders” – lest she contribute to the very same system she is arguing is decimating America and the middle class.
Pelosi, meanwhile, is estimated to be worth $114 million.
What’s it going to be, Nancy?