things are getting bad

Sorry, I did not mean to send this, after reading prior posts.

Enjoy your dad . . . must be great to have had him around this long. We can learn a lot from just listening to people with this kind of history.

 

I have answered this in a PM to you.

Take caution in one thing . . . you say "the company I do work for," NOT, "the company I work for." This implies a vendor or subcontractor relationship. If you are an outsider to that company, you may not be getting the "whole truth." I am speaking with first-hand knowledge as someone inside the company who actually deals with this day-to-day. A lot of company owners fluff up their story to keep a good appearance or a stiff upper lip, especially with vendors and subs.

 

I keep thinking I should have waited to take advantage of these great prices that are being mentioned....but then again if I invested that same money six months ago I would have probally "lost" the same amount or more. But I have to say, looking at and driving a Ferrari is much more fun than watching my portfolio (especially these days).

 

Yep.. all the "price watchers" here don't seem to be owners.. owners are more interested in driving the car they own.. as opposed to waiting for the price drop to level out (which never will)..

Here is the main issue: When Buying an expensive exotic car.. SAVING MONEY should NOT be on the list of requirements.. It's a money pit.. it's the price you pay for admission.. and while owners seem to understand that.. prospective buyers (on the internet) seem to think there is a "better way to do it" for those people these cars are not for you..

For the rest of the people that don't care/(have accepted the reality) about the money it takes to buy/maintain these cars.. I'll see you on the road..

 

I agree with what your saying, but yet before us lurks opportunity....F430 Spider and 360 Spiders for years prior were 30K-50K over sticker everywhere. Now the 430 is dipping 30k-50K under sticker for the first time. Gotta make you think...........................

 

Hello:

Just purchased a Stradale (1 owner, 5.9K mile, factory stripe/radio/extinguisher, all services up to date, as new) after negotiating for 2 weeks - If things were better I wouldn't have been able to negotiate. I recall earlier this year Motorcars International sold a low mileage Stradale for $225 which was their asking price in a matter of hours.

 

Congrats on the Stradale, I'm thinking its the one siitting at Ogara Coach last week in BH. Beautiful example, we need to get a CS Meet together.

 

Perhaps the seller took a $50k-$70k loss knowing that he can triple his $170,000 in the coming few months in the stock market. Not so insane to me as I did a few investments like this recently.

 

BINGO

 

I'd like to know where you can triple your money in the coming few months.

Give us a tip--also any buying will boost your already high profits.

 

Lamborghini has closed several shops in S. CA, looks like the edge of the precipice with a long fall down.

 

2030!? Common now RBK. Times are bad, but I seriously don't think it will be as bad as those times (not that I lived in that era). Here are the fundamental differences I see.

- The great depression saw 25% unemployment rate. I don't think we'll ever see unemployment rate that high ever again.
- Stock Market crash of 29 was due to faulty theoretical views of how publically traded companies are "valued" coupled with unrestricted margin borrowing leading to very high speculation. These days we see much stricter regulation although the derivatives market is in question.
- Companies were undervalued for a long period of time as people lost faith in stocks as investments. They were seen as "delusions of wealth." Today there is way more information and way more players out there who can spot the intrinsic value of a company. We all know that market prices do not always reflect actual realworld company performances.
- 1929-1946 period was a U.S specific recession as opposed to a worldwide recession we have now, which means we can work with other countries.
- We have a more powerful central banking system that works with Central Banking systems around the world to "resolve" or manipulate the financial system. Afterall, we create money out of nowhere anyways (by lending money). The only things the treasury has to monitor are inflation and the power of the trading dollar. The fact that energy prices are deflating as well as consumer goods, gives them more confidence to offer more money to be borrowed. The KEY is to get people to borrow it and spend it. Unless companies are borrowing money and spending it, we ain't goin nowhere.

You encourage people to save and live only on cash, but the fact of the matter is...... it ain't gonna happen. We live in a whole different era and I don't see it ever being the same again. Our GDP growth in the last decades have been attributed to "borrowed" money and that type of stimulation is entrenched in our financial system. GDP is a measure of "spending"... not saving. Its a paradox we've created. Realistically, if people saved and lived only on cash, GDP would drop dramatically putting us in an even deeper recession. Last time I checked recession = negative % growth in GDP.

So ironically, to get out of this whole mess, we have to spend, not "save." Funny aint it? My whole perspective on this is that America will get a free ride no matter what. Simply because so many economies around the world depend on the well-being of the U.S. Did you guys realize that oil must be purchased in U.S dollars?? We have a no limit credit card folks. We've been spoiled and there's no turning back.

However, I do feel that those who have been saving the "cash" will reap the most reward in times of turmoil. However, as a class, we cannot encourage "everyone" to be so frugal as it will lead to more turmoil and slower economic growth. We live in a modern world where we have large economies of scale and can afford to give just a few things away .

 

Playing the necromancer card here and resurrecting this old thread to remind myself and anyone curious enough to relive the feelings of 2008. We've been experiencing the longest running bull market in US history at this point (March 2015). I hope we all learned a bit from this time period.

 

Off topic, probably should me moved to another forum. Highly debatable topic, given the huge disconnect between stock market performance and other important societal and economic metrics like productivity, wages vs purchasing power, real employment, etc. A case to be made that those outside of the finance sector are still in a recession/depression. All of the stimulus provided in 2008 to now has been targeted at propping up the financial sector, so the resulting surge in equitities is not surprising and not necessarily correlated to actual productivity gains.

 

All arguably true.

I'd like to hear the same folks opinions on the topic now 7 years later. Maybe I'll have to subscribe and wade into the Religion/ Politics section.

 

Yes, please do, I don't want this thread to go astray into murkey waters and close it up.

 

Yeah., but the money isn't borrowed this time. It's coming from overseas and it's not stopping anytime soon.

The slogan for the U.S. should be "we suck less".