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Goodbye to Joe Biden, and Whoever Was President the Last Four Years

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6 minute read

From Racket News

By Matt Taibbi

The “Invisible Presidency” is an all-time criminal, and must not be allowed to flee

I saw His Majesty myself about half past twelve o’clock. His conversation was so hurried, and, though not unconnected or irrational, so unlike his ordinary manner that I certainly should not have thought it proper to have taken his signature or his pleasure to any Act.

— Spencer Perceval, Chancellor of the Exchequer, in an 1810 letter about King George III

King George III went mad as a March hare, talking until he foamed at the mouth, writing 400-word sentences, threatening to “befoul himself,” holding conversations with imaginary people, and insisting he had power to reanimate the dead. Contemporary notes often describe him “in restraint” and “lost in reverie.” His last, worst phase began in 1810, his 50th in power, a jubilee year requiring constant public appearances. The Last King of America by Andrew Roberts shows it can be done:

No fewer than 650 public events — parades, receptions, luncheons, bonfires, firework displays, illuminations and the like — took place in England alone; there were many more across the rest of the United Kingdom and in the empire beyond.

Joe Biden said goodbye to America Wednesday night. The most controversial part of an otherwise weirdly half-assed address (maybe his writers have stopped caring?) was a warning. “Today, an oligarchy is taking shape in America of extreme wealth, power and influence,” he said, a “tech industrial complex” that “literally threatens our entire democracy.”

Biden always loved the word “literally.” He’s been misusing it for decades, from “we literally can’t survive” four more years of Bush policy, to the 2008 election winner having an opportunity “literally to change the direction of the world,” to Barack Obama’s story being “literally incredible,” to saying he’s “literally rebuilding our entire nation,” and on and on. With Bidenterms like look, here’s the deal, let me tell you, I promise you, and C’mon, Biden says “literally” often enough to make “Word Crimes” singer Weird Al Yankovic want to “literally smack a crowbar upside your stupid head.” Here, it’s at least a sign that Biden might have added to the speech on his own.

Most all Biden speeches are acknowledged (LincolnObama) or unacknowledged (Neil KinnockJohn Kennedy) homages to other politicians. This last one Biden attempt at an Eisenhower impersonation is backward. We’re warned about an “oligarchy,” which Webster’s defines as “a government in which a small group exercises control especially for corrupt and selfish purposes.” He tries to tag disobedient billionaires like Elon Musk, Marc Andreessen and Mark Zuckerberg (as opposed to Reid Hoffman, Bill and Melinda Gates, Steven Schwartzman, etc.) as this new oligarchy, but there’s one even closer to home, which Biden later in the speech referenced:

In the years ahead… it is going to be up to the president, the presidency, the congress, the courts, the free press and the American people… I still believe in the idea for which this nation stands… Now it’s your turn to stand guard.

Biden’s possibly ad-libbed distinction between “president” and “presidency” was the most inspired line of his political career. America just went through four years in which the public was conned into viewing two stories as one. The first was about Joe Biden the human being, a disintegrating flesh-and-blood patsy, conscripted to such a miserably slapstick public regimen that it was impossible not to feel sorry for him. The second was about the presidency, which for years now has been like the eponymous Claude Rains villain in The Invisible Man: an unseen monster.

For four years, while Buster Keatonesque videos of stumblingtumbling Biden filled social media, just a handful of clues leaked about the ethereal “Presidency” running the American superpower. The latter existed separate from Biden and is scheduled to slither aside Monday. It exits on a bitter note, blaming an “avalanche of misinformation and disinformation” (not enough censorship) for its inability to be re-elected while strapped to a corpse. It hopes to get away unseen and probably will, as reporters prepare to chase the great baited hook that is Donald Trump. It’s too bad James Whale is dead, since this monster’s story will make a great horror movie someday.

Here are two sincere notes of farewell, to the hapless shrinking man Joe Biden, and to his more powerful partner, the “Presidency” :

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International

Large US naval presence in Caribbean reveals increased interest in western security

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From The Center Square

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As the number of suspected narcotic transport boats destroyed by the U.S. military grows, so does the number of naval vessels in the Caribbean.

Secretary of War Pete Hegseth announced on social media Thursday evening that U.S. forces carried out their 17th strike on alleged drug boats, killing three “male narco-terrorists” in the targeted operation.

President Donald Trump has made it clear that his administration’s intent to target narco-terrorists in the region to help curb the flow of drugs into the country.

Last month, it was announced that the newest and largest U.S. Navy Aircraft carrier, the USS Gerald Ford, and its strike group would be transiting to the SOUTHCOM area of responsibility in the Caribbean.

Ahead of the Ford’s arrival, several naval ships are already in the region, including the USS Iwo Jima Amphibious Ready Group, according to the U.S. Naval Institute—the Iwo Jima, a Wasp-class amphibious ship, among the larger classes of ships in the Navy.

The Iwo Jima Amphibious Ready Group deployed in August, carrying over 4,500 sailors and Marines, according to the Department of War. The group includes the Iwo Jima, USS Fort Lauderdale, USS San Antonio, and the 22nd Marine Expeditionary Unit.

As of early this week, the USNI reported that, in addition to the group, three Navy guided-missile destroyers are operating in the Caribbean, including the USS Jason Dunham, USS Gravely, and USS Stockdale. In addition, USNI reported the USS Lake Erie (CG-70) and the USS Wichita (LCS-13) are operating in the Caribbean.

The buildup of navy ships in the region points to the administration’s commitment to prioritizing targeting narco-terrorists. Still, it could also signal the U.S. focusing on potential adversarial threats in Latin America.

Hegseth told The Center Square last month at an event in the White House that the Department of War is keeping its eyes on adversaries in the region after TCS asked the secretary and the president if they had plans to expand U.S. Naval operations in Puerto Rico, specifically Roosevelt Roads, a Navy base closed in 2004.

“We’re familiar with the location that you’re referring to, and we will make sure that we’re properly placed in order to deal with the contingency we’re dealing with there, and also any ways in which other countries would attempt to be involved also, so we can walk and chew gum. We’re definitely keeping our eyes on near peer adversaries at the same time,” Hegseth told TCS.

The secretary’s response cemented the administration’s “America first” policy, which is beginning to shift focus to its “own backyard.”

“But we think sending a message on these cartels, these narco-terrorists, is an important, important inside our hemisphere, which for far too long other presidents, as the president pointed out, they’ve ignored our own backyard and allowed other countries to increase their influence here, which only threatens the American people. We’re changing that,” Hegseth concluded.

The naval buildup in the region could highlight concerns in recent years that Venezuela, under the dictatorship of socialist Nicolas Maduro, has aligned the country with American adversaries, such as Russia, China and Iran.

In 2022, Venezuela hosted military drills with countries including Russia, China and Iran.

The Center for Strategic and International Studies warns that Latin America is ripe for U.S. adversarial influences.

“While Western observers have focused their attention on joint connivances of Russia and Iran in Eastern Europe, Eurasia, and the Middle East, where Russo-Iranian military-security operations directly affect U.S. and European interests, the Western Hemisphere is not isolated from the two countries’ quests for global influence. In fact, in many ways it is an essential piece of the puzzle. First, both Iran and Russia perceive Latin America and the Caribbean (LAC) as a fertile ground for exploiting popular resentment vis-à-vis the United States and the ‘collective West,’ which they – rather successfully – harness to advance their view of a multipolar world,” according to CSIS.

The group cites sanctions from the West, which are growing in large part due to Russia’s ongoing offensive in Ukraine.

“Second, LAC partners could prove instrumental in offsetting the impacts of Western sanctions against Moscow and Tehran by mitigating their diplomatic and economic isolation. Finally, certain LAC countries could also serve as less scrutinized partners for further developing Russo-Iranian warfare capabilities or cooperation, sheltering mercenaries or militias – such as Hezbollah – and acting as vectors for ‘horizontal escalation’ of conflicts in which Russia and Iran are currently involved,” the group added.

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Business

What Pelosi “earned” after 37 years in power will shock you

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MXM logo MxM News

Nancy Pelosi isn’t just walking away from Congress — she’s cashing out of one of the most profitable careers ever built inside it. According to an investigation by the New York Post, the former House Speaker and her husband, venture capitalist Paul Pelosi, turned a modest stock portfolio worth under $800,000 into at least $130 million over her 37 years in office — a staggering 16,900% return that would make even Wall Street’s best blush.

The 85-year-old California Democrat — hailed as the first woman to wield the Speaker’s gavel and infamous for her uncanny market timing — announced this week she will retire when her term ends in January 2027. The Post reported that when Pelosi first entered Congress in 1987, her financial disclosure showed holdings in just a dozen stocks, including Citibank, worth between $610,000 and $785,000. Today, the Pelosis’ net worth is estimated around $280 million — built on trades that have consistently outperformed the Dow, the S&P 500, and even top hedge funds.

The Post found that while the Dow rose roughly 2,300% over those decades, the Pelosis’ reported returns soared nearly seven times higher, averaging 14.5% a year — double the long-term market average. In 2024 alone, their portfolio reportedly gained 54%, more than twice the S&P’s 25% and better than every major hedge fund tracked by Bloomberg.

Pelosi’s latest financial disclosure shows holdings in some two dozen individual stocks, including millions invested in Apple, Nvidia, Salesforce, Netflix, and Palo Alto Networks. Apple remains their single largest position, valued between $25 million and $50 million. The couple also owns a Napa Valley winery worth up to $25 million, a Bay Area restaurant, commercial real estate, and a political data and consulting firm. Their home in San Francisco’s Pacific Heights is valued around $8.7 million, and they maintain a Georgetown townhouse bought in 1999 for $650,000.

The report comes as bipartisan calls grow to ban lawmakers and their spouses from trading individual stocks — a move critics say is long overdue. “What I’ll miss most is how she trades,” said Dan Weiskopf, portfolio manager of an ETF that tracks congressional investments known as “NANC.” He described Pelosi’s trading as “high conviction and aggressive,” noting her frequent use of leveraged options trades. “You only do that if you’ve got confidence — or information,” Weiskopf told the Post.

Among her most striking trades was a late-2023 move that allowed the Pelosis to buy 50,000 shares of Nvidia at just $12 each — less than a tenth of the market price. The $2.4 million investment is now worth more than $7 million. “She’s buying deep in the money and putting up a lot of money doing it,” Weiskopf said. “We don’t see a lot of flip-flopping on her trading activity.”

Republicans blasted Pelosi’s record as proof of Washington’s double standard. “Nancy Pelosi’s true legacy is becoming the most successful insider trader in American history,” said RNC spokesperson Kiersten Pels. “If anyone else had turned $785,000 into $133 million with better returns than Warren Buffett, they’d be retiring behind bars.”

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