https://m.youtube.com/watch?v=RNWHXd62h94 Interesting video. I don't necessarily agree with his conclusion however. Let's say I just spent $9 million on a classic Ferrari and the market tanks, which it will imho because the market for ALL classic cars is absolutely absurd at the moment, then I'm hurting or at least pissed. So I think there's much more downside for wealthier ppl spending lots of money on high end cars. Generally though, I agree with his points. 1. Don't ever buy a car you can't pay for in cash or that you can't 5x over service the debt. 2. Make sure you're getting a good deal on interest rates if you are financing. 3. Don't believe the hype surrounding new cars unless proven with lineage or in the real world. 4. The world economy is much more fragile than certainly markets would have you believe and the influx of basically free money from central banks in the form of easing has created numerous bubbles that are going to be extremely painful when they burst.
Not to be political. The party or their politics doesn't matter. 9 times out of 10, the bubbles burst during administration change in the White House. 9 times out of 10, the out going administrations last two years things begin to crack. The new admin has some form of recession to deal with. Its been this way the last 60 years.
