A Piece of the Action

David Boaz of the Cato Institute gives a heads up on a stock tip for the leading growth market:

Some say high tech is coming back, or health care is the new growth area. But look at the growth in government.


Every business and interest group in society has an office in Washington devoted to getting some of that $2.5 trillion federal budget for itself-senior citizens, farmers, veterans, teachers, social workers, oil companies, bee keepers, labor unions, you name it. Walk down K Street, the heart of Washington's lobbying industry, and look at the directory in any office building. They're all full of lobbyists and associations that are in Washington for one reason: because that's where the money is.


A venture capitalist named Kenneth P. Ducey Jr. is trying to buy up some of those 2,000 lobbying firms and take them public. That means you could buy stock in a lobbying firm. And the next time you pick up the paper and read about congressmen being flown to Hawaii or Scotland, or free liquor at Capitol Hill receptions, you can know that your investment is hard at work creating a new tariff or entitlement or tax or subsidy for some special interest.

Ah, democracy at its best, huh?

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Written on Friday, December 30, 2005