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News Link • Economy - Economics USA

Cut, Spend And Borrow---Why The GOP Is Heading For Fiscal Calamity, Part 3

• By David Stockman

And as we will explain below, they both stem from a common deformation: Namely, a debt and speculation-ridden financial system which has been completely falsified, corrupted and disabled by the Fed and other central bankers.

During the last 40 hours---and, yes, we said hours, not days or weeks or years----Bitcoin has surged by 60%, blasting through $12,000, $13,000, $14,000, $15,000, $16,000, $17,000, $18,000 and now $19,000.

Needless to say, that's not a new "money" being born; it's an old fashioned speculative bubble being accelerated by today's high-speed trading technology.

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