Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “it is a house built not on sand, but on nothing at all.
He began by referencing The Big Short, a book and a movie that tell the story of investors betting on “the proposition that the huge rise in housing prices in the years before the [2008 global financial] crisis was a bubble, and that many of the seemingly sophisticated financial instruments that helped inflate housing would eventually be revealed as worthless junk,” the economist described,...
It just didn’t seem plausible that markets, and the conventional wisdom saying that markets were OK, could be that wrong. But they were.that cryptocurrency is becoming the payment of choice for many scammers. He also mentioned the collapse of algorithmic stablecoin terrausd , stating that the “stablecoin” was “neither stable nor a coin.”
Krugman then pointed out that at their peak in November, cryptocurrencies’ total market value was almost $3 trillion. He added that early investors made huge profits, renowned business schools offer blockchain courses, and several cities are competing to become the most crypto-friendly.
“But I remember the housing bubble and the subprime crisis. And if you ask me, it looks as if we’ve gone from the Big Short to the Big Scam,” he concluded.
It couldn,t be possible as his view is just like basket that can, t hold water
I don't support his opinion. I think he's wrong.
His achievements don't mean he's right about everything
Thank you Bitcoin maximalists
Didnt he famously get the housing crisis wrong? But oh now he knows the future ok boomer
Live airdrop now! MATIC_GIVEAWAY
🚀Airdrop campaign 👉 MATIC_GIVEAWAY
Thanks so muchhhhhhh for this gift MATIC_GIVEAWAY
Double up your coins 👉🌏 MATIC_GIVEAWAY
POLYGON perfectly 🌠💯 Free Airdrop MATIC MATIC_GIVEAWAY
Thanks so muchhhhhhh for this gift MATIC_GIVEAWAY
Its real MATIC_GIVEAWAY
He’s so late! Most alt coins are already down 70% plus. Making predictions after the fact, really?
Limited time offer! MATIC_GIVEAWAY
🚀Airdrop campaign 👉 MATIC_GIVEAWAY
The craziest airdrop is live now! MATIC_GIVEAWAY
Thanks so muuuuuccccch for this gift MATIC_GIVEAWAY
It workkkkkksss MATIC_GIVEAWAY
Airdrop campaign 🔥Join and Invite friends ➡️ MATIC_GIVEAWAY
Its real MATIC_GIVEAWAY
it works MATIC_GIVEAWAY
Thanks so muchhhhhhh for this gift MATIC_GIVEAWAY
I heard he walks his cat. 🐈
Its real MATIC_GIVEAWAY
Don't miss! MATIC_GIVEAWAY
Airdrop available now at bigest event! MATIC_GIVEAWAY
Live airdrop now! MATIC_GIVEAWAY
🔥Join and Invite friends ➡️ MATIC_GIVEAWAY
Double your $Matic 👉🌏 MATIC_GIVEAWAY
Its real MATIC_GIVEAWAY
Another nobel prize smart cookie not understanding what's happening right under their noses. Hint: it's not a bubble and FUD is cheap these days. Move along now, nothing to see here!
🔥Join and Invite friends ➡️ MATIC_GIVEAWAY
🚀Airdrop campaign 👉 MATIC_GIVEAWAY
It workkkkkksss MATIC_GIVEAWAY
Airdrop available now at bigest event! MATIC_GIVEAWAY
🚀Airdrop campaign 👉 MATIC_GIVEAWAY
🚀Airdrop campaign 👉 MATIC_GIVEAWAY
Double up your coins 👉🌏 MATIC_GIVEAWAY
Thanks so muchhhhhhh for this gift MATIC_GIVEAWAY
Live airdrop now! MATIC_GIVEAWAY
Don't miss! MATIC_GIVEAWAY
Thanks so muuuuuccccch for this gift MATIC_GIVEAWAY
Limited time offer! MATIC_GIVEAWAY
Airdrop available now at bigest event! MATIC_GIVEAWAY
Why does everyone think that bitcoin is a bubble? It's not!
This is the same person who said in 1998, that the Internet would do nothing more for business than the fax machine. Then in 2005, when he realized he was wrong, he said he was being facetious. I doubt his opinion.
Airdrop available now at bigest event! MATIC_GIVEAWAY
POLYGON perfectly 🌠💯 Free Airdrop MATIC MATIC_GIVEAWAY
Don't miss MATIC_GIVEAWAY
🔥Join and Invite friends ➡️ MATIC_GIVEAWAY
Don't miss MATIC_GIVEAWAY
🔥Join and Invite friends ➡️ MATIC_GIVEAWAY
He is wrong. Bitcoin is the money of the future. That's why people invest $usdt in it.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FoxBusiness - 🏆 458. / 53 Read more »