Quote:
Originally Posted by japhi
Q1 GDP was negative 1.4%. I believe we are in for some interesting times - QE winding down, 7-8 interest rate hikes, wild inflation. Card market is already contracting (broadly, doesn't mean what you collect is).
Personally I won't be making any big card or other consumer purchases, highly suspect there be many folks caught naked (over leveraged) when this tide goes out. Toys will be going on sale soon.
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I have been thinking this way for 2 years and have been dead wrong.
Middle and low grade cards have pulled back because this inflation is affecting the middle class ..... conversely inflation has little to no affect on 5 and 6 figure buyers on Mile High, REA, and just wait till Memory Lane. Higher Higher and Higher a 53 Mantle PSA 7 sold for 47k along with a SGC 7.5 Mantle selling for over 15k in REA's last auction.
The rich get richer...the poor get poorer... and the middle class pay more and will spend less. Cards are still bullish IMO just not low and middle grade.