Are Cryptoassets The Great Scam?

Source: American Institute for Economic Research
by Gerald P Dwyer

“At the New York Times, Paul Krugman writes that cryptoassets are a ‘Great Scam,’ with all cryptoassets worthless. He even suggests that blockchains are ‘part of the hype. ‘I remember the housing bubble and the subprime crisis,’ Krugman writes. ‘And if you ask me, it looks as if we’ve gone from the Big Short to the Big Scam.’ Perhaps. If all Krugman were arguing is that investors should be very careful, then his remarks would be a bit overwrought but otherwise unexceptional. The comparison to the ‘Big Short’ and the Financial Crisis of 2007-2008 suggests something else though.” (06/20/22)