Quote:
Originally Posted by oldjudge
So much of what the author says is wrong or skewed to his world view. For example, the top 10% is not a small group. In the US it is 33 million people. Only a tiny percentage are currently involved in collectibles. You could easily grow this pot, even in difficult economic times.
My only takeaway from the article is that the author is not in the top 10%, economical or as a writer.
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That's a great point. He talks as if 0.01% has all the assests. I think he's more of a provocateur than an economist . I also think that one of his most important claims is that a very strong stock market is unnatural and untenable. He thinks that as the recent bubble burst, the whole economy is crumbling, and collectibles will be worthless. We might fall into a lasting depression, of course. But for the last 200 years, the US economy has recovered from its downturns, the stock market has, over time, averaged 6-7 % gains, and Mantle cards have increased in value. I am not selling. everything