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Thursday, November 6, 2025

Nancy Pelosi Finally Retiring From Congress At 85

 After days of speculation, former House Speaker and legendary insider trader Nancy Pelosi (D-CA) has formally announced that she out.

In a Thursday morning video, Pelosi announced that she won't seek reelection after completing her current term.

"There has been no greater honor for me than to stand on the House floor and say, ‘I speak for the people of San Francisco.’ I have truly loved serving as your voice in Congress, and I've always honored the soul of Saint Francisco — ‘Lord, make me an instrument of thy peace.' The anthem of our city," Pelosi said in a voiceover. Which 'Lord' she was referring to is unclear. 

"That is why I want you, my fellow San Franciscans to be the first to know I will not be seeking re-election to Congress. With a grateful heart, I look forward to my final year of service as your proud representative as we go forward."

Pelosi, who has been in congress since 1987 after winning a special election to replace the late Rep. Sala Burton (D-CA), served as House speaker from 2007-2011, and then again from 2019 to 2023. 

Pelosi become one of President Trump's largest enemies over the past decade - dramatically tearing up his State of the Union speech in 2020, and refusing to allow the National Guard to deploy on Jan. 6. 

Trump cheered Pelosi's retirement announcement - telling Fox News: "The retirement of Nancy Pelosi is a great thing for America," adding that she's "evil," "corrupt," and "only focused on bad things for our country."

"She was rapidly losing control of her party and it was never coming back. I’m very honored she impeached me twice and failed miserably twice," Trump added. 

Of course, she hasn't been right for a while... this was five years ago:

https://www.zerohedge.com/political/nancy-pelosi-finally-retiring-congress-85

France's Plans To Deploy Troops To Ukraine Risk Sparking A Major Crisis

  by Andrew Korybko via Substack,

Russia’s Foreign Intelligence Service (SVR) reported that France is plotting to deploy up to 2,000 soldiers, the core of which will be Latino assault troops from the Foreign Legion who are presently undergoing intensive training in Poland, to Central Ukraine in the near future.

This follows Chief of Staff of the French Army Pierre Schill declaring that his country will be ready to deploy troops to Ukraine next year as part of “security guarantees”.

Putin earlier warned that any foreign troops there would be legitimate targets.

Nevertheless, SVR reported in late September that “the first group of career military personnel from France and the United Kingdom has already arrived in Odessa”, yet no crisis followed. The reason might be that neither of them confirmed their forces’ presence there, perhaps for escalation-management purposes, so they and Russia aren’t (yet?) making a big deal about any potential casualties. Up to 2,000 conventional troops, however, would be impossible to hide and thus represent a major escalation.

French President Emmanuel Macron first flirted with deploying troops to Ukraine in February 2024, but nothing came of it likely due to reluctance among his NATO allies to risk World War III with Russia. One year later, new Secretary of Defense (now War) Pete Hegseth informed the bloc that the US won’t extend Article 5 security guarantees to allies’ troops in Ukraine. Since then, reports circulated that Trump might authorize US intelligence and logistics support for precisely such a post-war deployment.

These rumors followed his Anchorage Summit with Putin and preceded the US’ latest escalation against Russia by two months, the latter of which was assessed here as being driven in part by Trump believing that he can coerce Putin into the most realistic maximum concessions possible. About that, Russia is unlikely to ever cede the disputed territories under its control since the constitution prohibits that, but it’s hypothetically possible that it could accept the deployment of Western troops to Ukraine one day.

It’s unimportant if some consider this to be a political fantasy since that doesn’t detract from the argument that Trump is formulating US policy towards the Ukrainian Conflict with this scenario in mind. Whether this potentially French-led force would deploy during hostilities or only afterwards is a subject of debate, not to mention whether any such force would ever deploy there at all, but France remembers what Hegseth said in February and therefore probably wouldn’t do so unilaterally without US approval.

Accordingly, it should be assumed that Trump is aware of Schill’s declaration of intent about next year’s possible deployment to Ukraine and Macron’s potential plans to deploy assault troops even sooner but at the very least didn’t object, perhaps even encouraging this as leverage over Putin (as he might see it).

If so, then Putin must decide whether to reach a deal with Trump over this for escalation-management purposes or climb the escalation ladder by authorizing strikes against those troops if they deploy there.

It was predicted here in late September after SVR’s report about French and UK troops in Odessa that “Direct Western intervention in the conflict is now arguably turning into a fait accompli, it’s just a question of how Russia will respond and whether the US will then be pulled into mission creep.”

The two latest news items confirm the accuracy of that analysis, which lends credence to the overall assessment that Trump is “escalating to de-escalate” on better terms for the West and worse ones for Russia.

https://www.zerohedge.com/geopolitical/frances-plans-deploy-troops-ukraine-risk-sparking-major-crisis

Yields Plunge After Private Tracker Shows US Lost 9K Jobs In October, Driven By Government Collapse

 One month ago, when the market was freaking out by the lack of official government data (it has since realized again, that whether the government is open or closed, or what the jobs number is - certainly not until it is revised 3 or 4 times, does not matter), everyone scrambled to find private sources of economic data. That's when the jobs data compiled by Revelio Labs quickly emerging as one of the favorites. It also showed that contrary to fears prompted by ADP that the US was now in a labor recession, in September the US actually added 60K jobs, the biggest monthly increase of 2025.

Fast forward one month when the news was far uglier: according to the latest Revelio Labs data, not only was Sept revised almost 50% lower from 60K to 33%, but October was ugly, plunging to -9,100, the second worst print of 2025, and the second worst on record (Revelio only goes back to 2021).

Looking below the surface revealed that the actual number is not quite as bad as the entire drop and then some was the result of 22,210 government job losses, but there also losses in manufacturing and trade. 

Coupled with the surge in government layoffs noted earlier as tracked by Challenger...

... and suddenly rate cut odds are spiking, with 0.69 rate cuts priced in for December, up from 0.62 yesterday.

The data has resulted in a broad-based risk off move, with stocks sliding to session lows, and 10Y yields tumbling 5bps to session lows below 4.10%

https://www.zerohedge.com/markets/yields-plunge-after-private-tracker-shows-us-lost-9k-jobs-october-driven-government

CarMax Shares Crater As Board Ousts CEO Amid Deepening Used-Car Market Cracks

 CarMax shares plunged in the early cash session after the struggling used-car retailer delivered weak preliminary third-quarter results that missed Wall Street expectations, and compounded the blow by announcing the abrupt termination of its chief executive officer.

"We make car buying and selling simple, transparent, and personalized," Chair of the Board Tom Folliard stated in a press release, adding, "However, our recent results do not reflect that potential and change is needed."

Folliard was referring to preliminary third-quarter results: earnings per share forecasted between .18 cents and .36 cents, missed the Bloomberg Consensus of .69 cents

  • Prelim EPS 18c to 36c, estimate 69c (Bloomberg Consensus)

  • Prelim used unit sales in comparable stores -8% to -12%, estimate -3.7%

In addition to the weak preliminary earnings report, the company's board ousted CEO William D. Nash amid declining revenue...

... and stock collapse. 

The combination of today's news sent shares tumbling as much as 15%, pushing year-to-date losses to over 57%. Meanwhile, online used-car retailer Carvana has gained more than 50% so far this year.

Are CarMax's troubles a broader sign that used-car prices could tumble amid worsening consumer sentiment, with lower- and middle-income households increasingly cutting back on restaurant spending?

Let's not forget that the implosion of subprime auto lender Tricolor Holdings may have been an inflection point... 

https://www.zerohedge.com/markets/carmax-shares-crater-board-ousts-ceo-amid-deepening-used-car-market-cracks

Aimei Health Extends Business Combination Deadline

 Aimei Health Technology Co., Ltd has extended the deadline for its initial business combination by one month, from November 6, 2025, to December 6, 2025, by depositing $150,000 into its trust account for public shareholders. This extension is the twelfth and final one allowed under the company’s current articles of association. On November 4, 2025, the company issued a $150,000 unsecured promissory note to its sponsor, Aimei Health Ltd, and United Hydrogen Group Inc., with each contributing $75,000. The note, which is interest-free, becomes due upon the consummation of the business combination with United Hydrogen, and the payees have the option to convert it into private units of the company.

https://www.msn.com/en-us/money/savingandinvesting/aimei-health-extends-business-combination-deadline/ar-AA1POPwH

https://breakingthenews.net/Article/Moderna's-Q3-revenue-slumps-45-to-dollar1.0-billion/65135284

https://breakingthenews.net/Article/EU-starts-probe-into-Deutsche-Boerse-Nasdaq-collusion/65133935