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Opinion

Jim Jordan masterpiece on House floor…

“Nineteen minutes into Trump’s administration at 12:19pm the Washington Post headline was “The campaign to impeach President Trump has begun”…Now with just one week left they are still trying.”

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Business

BITCOIN GOES BOOM ^ ABOVE 50K 1st TIME E V E R.

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BITCOIN GOES BOOM ^ ABOVE 50K 1st TIME E V E R.

KEY POINTS

  • Bitcoin surged to an all-time high of more than $50,000 on Tuesday.
  • Large firms like Tesla, Mastercard and BNY Mellon have shown support for cryptocurrencies.
  • Many crypto investors believe the current bull run is different to a late 2017 bubble.

MORE… CNBC. 😉

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Opinion

McConnell issues statement on Senate impeachment trial…

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McConnell issues statement on Senate impeachment trial…

McConnell tells colleagues he’s undecided on impeachment, per spokesperson:

“While the press has been full of speculation, I have not made a final decision on how I will vote and I intend to listen to the legal arguments when they are presented” to Senate.

No Senate impeachment trial until after Trump leaves office.

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Economy

Bitcoin Is Unlike Any Other Bubble We’ve Seen So Far

(Bloomberg) — While the jury is still out on whether Bitcoin is a bubble, one thing is certain: it’s unlike any other bubble we’ve seen.

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Bitcoin Is Unlike Any Other Bubble We’ve Seen So Far

Source: Bloomberg

Previous speculative asset-inflation episodes were either a one-off, like tulip mania in the 17th century, or the boom-doom cycle took many years, like gold. Bitcoin, by comparison, has survived three peak-to-trough drawdowns of over 80% in less than 10 years. The cryptocurrency surged past $40,000 last week to set an all time high. It has fallen more than 15% since then.

Man Group, the world’s biggest publicly traded hedge fund firm, compares Bitcoin to Prometheus in Greek mythology, whose liver keeps growing back, every time a giant eagle pecked it out.

“Every time a Bitcoin bubble bursts, another grows back to replace it,” Man Group’s analysts wrote in a note dated Jan. 12. “This very frequency makes the Bitcoin narrative somewhat atypical relative to the great bubbles of the past.”

Here’s a table of some financial bubbles compiled by Man Group:

Read More:

Bitcoin’s Biggest Plunge Since March Shakes Faith in Crypto Boom

Bitcoin’s Wild Weekends Turn Efficient Market Theory Inside Out

Bitcoin’s Slide Dents Price Momentum That Dwarfed Everything

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