Speaker Nancy Pelosi (D-CA) announced Thursday that she would retire from House leadership. She has earned a spot in history for breaking barriers, succeeding in what was formerly a man’s world, and advancing a left-wing agenda more effectively than nearly any individual in American politics.
But the Breitbart Business Digest believes Pelosi’s career ought to be defined in a different way: She is the most infamous—and one of the most successful—stock traders of all time. Her personal wealth has soared to nine figures and beyond since the financial collapse of 2008. This is largely attributed to stock trades made by her husband, Paul; and those trades were often concentrated in businesses and industries propped up by Nancy’s political policies. As famously documented by Breitbart Senior Contributor Peter Schweizer, Nancy Pelosi’s stances shifted consistently as her family made money. Currently—and thanks in part to the Speaker herself—most, if not all, of this appears to be legal.
Pelosi is slow-walking an utterly reasonable (and necessary) ban on congressional stock trading. Something like that is almost guaranteed to become a part of the platform for any Republican seeking the White House in 2024—unless Joe Biden signs something into law along these lines first. Though she will remain in the Congress, at least for now, Pelosi’s tenure in leadership has come to an end. What does the future have in store for the soon-to-be former Speaker? We certainly hope it’s seminars, newsletters, or masterclasses on how to dominate the trading game while still soaring to historic heights at your day job.
Though his retirement is not confirmed, Brian Deese, Biden’s top economic advisor and a BlackRock alumnus, is reportedly looking for an offramp from his post as National Economic Council Director in 2023. He’s largely responsible for the Bidenflation and America’s reluctance to tap our own natural resources despite soaring energy prices. So, good riddance, but he’ll likely be replaced by someone equally as bad.
Also on Wednesday, the Philadelphia Fed released their factory activity index, and it showed a large and unexpected drop from already low estimates. This gauge measures manufacturing in the mid-Atlantic region. While a negative 8.7 number was posted in October, November’s number came in at -19.4 percent. The expectation was -6.0 percent. New orders also weakened from already low numbers. Given that inflation is continuing at a rapid pace, these numbers might be even worse than they appear on paper.
FTX’s CEO John Ray III (famous for restructuring Enron) referred to his new company as a “complete failure” with an “absence of trustworthy financial information.” The company’s bankruptcy filing, released today, made this saga even more surreal. Most of FTX’s digital assets have not been secured, and no one appears to know who the company’s biggest creditors are. But perhaps more amusingly and horrifyingly, the company was paying for its employees’ luxury housing, and disbursements were approved via personalized emojis in a company chat. As murky as things stand as of now, one thing is clear: FTX calls for a double clown emoji.