{"id":56812,"date":"2022-01-29T14:34:03","date_gmt":"2022-01-29T12:34:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56812"},"modified":"2025-09-04T08:20:58","modified_gmt":"2025-09-04T05:20:58","slug":"paul-krugman-compared-cryptocurrencies-to-the-us-mortgage-crisis","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/paul-krugman-compared-cryptocurrencies-to-the-us-mortgage-crisis\/","title":{"rendered":"Paul Krugman compared cryptocurrencies to the US mortgage crisis"},"content":{"rendered":"

American economist and Nobel laureate Paul Krugman, in his column for NYT<\/a>, compared the fragility of the digital asset market to the US mortgage crisis.<\/p>\n

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\u201cNo, cryptocurrencies do not threaten the financial system \u2014 the numbers are not large enough for that,\u201d he wrote.<\/p>\n<\/blockquote>\n

Krugman also doubted the ability of digital assets to trigger a global economic crisis. However, he said that, due to low awareness of the risks, investors continue to lose money in the cryptocurrency market.<\/p>\n

The economist cited a NORC study, which showed that 55% of digital asset holders do not have a college degree. Krugman called the results evidence that investments in cryptocurrencies have become popular among the working class.<\/p>\n

Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, criticized the column, calling it a “peak NYT” and noting gaslighting by the economist.<\/p>\n

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*Peak NYT* on Bitcoin, the new Krugman op-ed:<\/p>\n

-Calls BTC the \u201cnew sub-prime\u201d
-Says it has \u201cfew legal applications\u201d
-Gaslights by saying the non-white, working-class majority of US BTC buyers has been hurt
-Govt has \u201cfailed to protect the public\u201d from BTChttps:\/\/t.co\/FMF0mfsh6I<\/a><\/p>\n

\u2014 Alex Gladstein \ud83c\udf0b \u26a1 (@gladstein) January 28, 2022<\/a><\/p>\n<\/blockquote>\n