What's going to happen to Ferrari values...

Something tells me this thread is gonna get bounced one way or another but before it does I just wanna say that you sound like my kinda folks, Matt.

 

Prediction: Ferrari values will be just fine. And there will be people to buy and sell them. But most importantly, to drive them!

 

Didn't that guy Darwin have some kind of theory about the survival of the fittest?

 

are we talking in about 20 years? Self driving cars will be the norm. Ferrari value will go down as the demand decrease.

 

It would be nice to see less of the investers storing them away and using them instead. Prices for people who actually use them are too high because of the investers. Years ago a lot of the investers got their fingers burnt when the bottom dropped out of the market, we can only hope it happens again.
I would not have been able to buy my 1st ferrari if the price had not dropped through the floor in the early 90s.

 

Not sure about what's gonna happen with values but I'm gonna hang on to my NA 458 spider for sure.

 

Actually its baby boomers to blame for the current state of affairs. The biggest regret of the boomer generation will be the 'sexual revolution', which was used as a distraction mechanism to hide the rampant raping of the economy by the creditor class.

What we are seeing now is the reaction to that.

 

+1

Everything in this economy has become financialized, meaning people are 'making money' from flipping previous assets while very little investments are occurring. Drive across the US it looks like an unkept hellhole, yet the dow is at all time highs?

 

The value of Ferrari's is absolutely related to the amount of dollars created against them in loans.

This goes for any 'asset' nowadays, the value of the stock market is directly tied to the amount of margin lending. New loans = new dollars = new bidding.

Without loans there are no dollars to bid on stuff. Dollars are created when a loan is made. The problem is the majority of dollars(debt) that are being created are going to bid up on stuff that already exists while next to no investment in anything is occurring. Loans only originate if you have quality borrowers but if everyone is in debt how do you have those? You don't, hence 'debt deflation'.

Why would a rich miser bother taking 'risks' in the economy when he can just buy a government bond or a Ferrari 250 and watch it 'swell up' in value because a greater fool came along an was able to obtain more money to bid it up. Asset inflation decimates the real economy while benefiting a tiny minority. Sorry folks, if the rich misers aren't forced to take down massive writedowns on their portfolios of sterile assets(bonds) than this system is set on self destruction.

The millennial generation is facing a situation of poverty level wages while being forced to pay off sky high debts to a usury class hanging out in lavish centers(NYC, London) around the world. Yea they are 'whiney' as you say but that is mostly because they have been stripped of any moral vocabulary to be able to even explain their misery. They know something is wrong but have been completely blinded into being able to articulate it. For the monied classes its better the 'masses' are talking about perversions like LGBT and other nonesense instead of focusing on why they are all poor now!

The OP's post is classic blame the victim!

 

You did? Too bad! Don't whine to us about that!

By the way, you might want to pony up fifteen bucks and get subscribed on the forum. It will open several sub-forums, most notably Politics & Religion. You'll fit right in on there.

 

Not really. Just pointing out the classic 'blame the victim'. Millennials were told it was suppose to be a 'service economy'. Ya just take out these high interest rate loans to fund your indoctrination err I mean education and through hard work and a lifetime of debt repayment you'll be rich too!

So they get out of schools and into poverty wages while the debt overhang keeps growing due to the 'magic of compound interest' of which many on here are happy to benefit from.

So here we are in the information age where I can download all of man's wisdom from a smartphone yet it somehow costs outrageous sums to get an education?

Come on now.. It was a scam the same way George Bush 'ownership' society was a scam. Debt peonage.

Ferrari values skyrocketed because of so much scam money flowing into so little hands. So naturally the tiny few goes out and starts bidding up niche assets like cars, (hideous)paintings to show how sophisticated they are.

Honestly did you ever sit down and think where all the $$ that bids up old rust buckets comes from? Let me guess from hardwork? Haha.

 

You make good points and I agree with what you say. However, I do not agree with your George Bush ownership comment, if it is the home ownership initiative that you are referring to. That initiative began under Bill Clinton, and along with the repeal of the Glass Steagall act, and the stupid monetary policies of Alan Greenspan, it was off to the financial crisis in 2008. Remember our congress also pushed the banks to make these loans to the unqualified buyers, and the outcome was a disaster. Yes, it was a scam, but please include all responsible parties, which in this case was all of them.

I do hope we can move some of this money into the pockets of the average folks, and burst a few financial bubbles along the way. Many assets, not just collector cars are way overvalued.

 

Ummm.... no it won't ....

Stupid thread IMO..... plain stupid

 

Not stupid at all; just not in the preferable [to some] sub-forum.

 

Seriously, though, subscribe and post political stuff in that subforum. You can, indeed, get banned in there as well, but it takes a lot more work. And the back-and-forth bickering and ad hominem attacks are elevated to an artform in there.

 

Making moronic statements about educators/education and being pissy when someone makes a suggestion to you . . . two sure fire ways to success.

I always marvel at how people wear the "Redneck" badge of honor. When I was in college in NC in the 70s, no one wanted to be called a redneck as it was more a term equated to ignorance.

 

Years ago a car speculator , purchased a lot of collectors cars from Sweden, while on the ferry to the UK the bottom fell out of the market and he got his fingers burnt. Justice comes around sometimes.

 

im 29 and i've been hustling since 18 (while i was still in college) to put myself into a ferrari

sure, it was a lot easier for baby boomers to make money, and sure, many millennials are always complaining and asking for more

but there are also plenty of guys just like me, ferrari value won't go anywhere