Posted By:
Bruce Dorskind
As many of you will recall,, we predicted a major economic collapse on a post in
mid 2007. We believe that the next two years will be far more difficult than 2008.
There is at least a 10-15% chance that we will migrate from a deep recession
into a worldwide depression. One that will end- as most depressions do, when there
is a major international conflict- i.e. Russia, Iran, China and Korea and perhaps,
our the enemy who is most under-estimated, Mr. Chavez.
Competition for water, minerals, land, food will dwarf competition for oil. We don't believe
the robust growth of China and India and can be supported without great sacrifice on the part of
Europe and Asia...and even, perhaps, North America.
Watch for the US to becoming increasingly isolationist. We will do all that we can to become
energy self sufficient and strengthen our currency, protect our natural resources and close
our borders. We will have no choice but to act in this fashion.
The economic downturn, which is only just beginning, will certainly have a vast impact on
the collectibles market. However, the very rare, ultra expensive and legendary items- i.e.
a 1952 PSA 9 Mickey Mantle card will continue to soar in price. Less than 1% of the collectors
buy the $25,000+ items and most of them have enough cash and are protected in many different
ways. Like the tycoons whose wealth grew during the 1930's, today's super rich will continue
to get richer.... when they want something money will not be an object. The Memory Lane
auction price for the Wagner E 93 and Four Hits of Mutrie are but two examples.
Those who collect mid-grade cards from classic sets like T-206 or R-319 are hopefully doing so
for enjoyment purposes only. Prices will fall 25% in the next 24 months.
Bruce Dorskind
America's Toughest Want List