Ted
This economic slowdown is so much like 81-83 that it is not funny. I don't want to get into a political battle here -- but the question is, and we'll see if it gets answered -- was the Reagan way out of the depths a better way out or will the Obama way work better. We don't know yet about the Obama way; so again, this is not designed to create haters; rather just a fact we don't know.
And Ted; like you I was around and vest-pocket dealing in that period. The hobby was actually beginning the march towards the explosion of the late 80's and interestingly vintage card prices took a beating for much of that era. The most famous case was the 52T Mantle going from public sales of more than 3K to $500. Other commons of that ilk also took a ride down. Those cards would not recover totally until Black Monday in 1987.
By early 1988; Beckett Monthly had NO Arrows in one of their issues as everything was going up too rapidly and there was a page 1 editorial in Beckett Monthly stating that.
And unlike that period; old cards now have an even better cache as a fun investible to hold and make money on; so I expect that they will go lower in value less easily than other forms of american dollars; etc. I know he was entertaining; but I frankly think Marshall Barkman when he was here was dead on on Silver going to $30 and I think Gold has a shot to go to $1500 in the near future. And don't be surprised if Stocks go up as well. Now that a lot of "small" investors are out; the big money may go for a ride again.
I'm semi quoting one of the CNBC people here -- but in a column last week -- he wrote -- Dow to 10K; Obama be damned.
Ted; I would love to see you in Clevleand and compare notes on 81-83 versus 2007-09
Regards
Rich
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07-16-2009, 09:11 PM
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