Thursday’s announcement by Speaker Nancy Pelosi (D.CA) was that she would be retiring from the House leadership. She is a legend for breaking down barriers and succeeding in a world that was once dominated by men. Her efforts to advance a left-wing agenda have been more successful than any other person in American politics.
The Breitbart Business Digest thinks Pelosi’s career should be reframed in a new way. She is one of the most famous and successful stock traders of all time. Since 2008’s financial crash, her personal wealth has increased to nine figures. This can be attributed largely to the stock trades that her husband, Paul, made. These trades were often concentrated within businesses and industries supported by Nancy’s policies. Breitbart Senior Contributor Peter Schweizer has documented that Nancy Pelosi’s stances changed as her family earned money. This is currently legal, and thanks to the Speaker, most, if not all of it appears to be.
Pelosi is slow to implement an entirely reasonable (and needed) ban on congressional stock trades. If Joe Biden does not sign something along these lines, then something like this is almost certain to be part of any Republican’s platform for the White House bid in 2024. Pelosi’s time as a leader of the Congress will end, though she will still be in it. What is the future for the soon to be former Speaker? We hope that it will be seminars, newsletters or masterclasses about how to win the trading game, while still excelling at your day job.
Although his retirement has not been confirmed, Brian Deese is Biden’s top economist and BlackRock alumnus. He is apparently looking for an exit route from his position as National Economic Council Director 2023. He is largely responsible for America’s inability to tap its own natural resources, despite rising energy prices, and the Bidenflation. He’ll be replaced, however, by someone equally evil.
The Philadelphia Fed also released their factory activity indicator on Wednesday. It showed an unexpectedly large drop in manufacturing activity from its low estimates. This gauge measures manufacturing activity in the mid-Atlantic. Although October’s figure was negative 8.7 percent, the November number was -19.4 percentage. The expected rate was -6.0%. The number of new orders fell from low levels. These numbers could be worse than what they seem on paper, given that inflation continues at an alarming rate.
John Ray III, FTX’s CEO, was famous for his work restructuring Enron. He described his new company as a “complete fail” with “absence of trustworthy financial information.” Today’s bankruptcy filing made this even more bizarre. FTX has not secured most of its digital assets and it is unknown who its largest creditors are. Perhaps more disturbingly and alarmingly, the company was actually paying for employees’ luxury housing. Disbursements were approved by personalized emojis sent to company chat. FTX needs a double clown emoji, no matter how murky things are at the moment.
