Will this stock market madness affect cards?

samosa4u · #1 03-17-2020, 04:12 PM

Quote:

Originally Posted by MULLINS5

I never bet against you on those cards.

You purchased nearly all of the supply of Wrestling All-Star cards (an obscure, unpopular set at the time) and then spammed the living hell out of them for years on the Collector's Universe forums - even when the majority begged you to stop (even though I defended you at the time). You even said that you intentionally bid on these cards to maintain their values and hype - but if you won the auction intended to pay so it wasn't shilling. It's also a set that was made, literally, in a guy's basement and I don't see how anybody can tell the difference between these and fakes (think Star Basketball). I held PSA at high esteem at the time and even had doubts then - given what's been uncovered lately I am of a string opinion they do not have the resources to accurately grade or authenticate these.

Whatever he did, he turned a piece of turd into a piece of gold, and that's brilliant IMO. Good job, Peck.

MULLINS5 · #2 03-17-2020, 05:31 PM

Quote:

Originally Posted by samosa4u

Whatever he did, he turned a piece of turd into a piece of gold, and that's brilliant IMO. Good job, Peck.

It's actually pretty easy to do. I've seen it happen quite a bit in the antiquarian book world.

drcy · #3 03-17-2020, 06:25 PM

A key reason they are doing the steps they are doing is not because it's the black plague. They are doing it to lower and lengthen the curve. If there is a large peak, it would swamp the healthcare system, hospitals and hospital resources.

Rich Klein · #4 03-17-2020, 07:08 PM

"Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN."

Skipping politics aside, if we get close to 20 percent unemployment the card market will suffer as many people will have to sell at reduced prices to put food on the table, pay rent, etc.

The 2008 recession led to 10 percent unemployment by October, 2009. This would be double that figure. If you remember how 2007-10 was, then you have an idea what 2020-22 would be and then some.

Rich

Johnny630 · #5 03-17-2020, 07:24 PM

Quote:

Originally Posted by Rich Klein

"Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN."

Skipping politics aside, if we get close to 20 percent unemployment the card market will suffer as many people will have to sell at reduced prices to put food on the table, pay rent, etc.

The 2008 recession led to 10 percent unemployment by October, 2009. This would be double that figure. If you remember how 2007-10 was, then you have an idea what 2020-22 would be and then some.

Rich

I see ZERO CHANCE of US Unemployed going to %20 Won�t Happen......thankfully it won�t even get close :-)

Rich Klein · #6 03-17-2020, 07:28 PM

Quote:

Originally Posted by Johnny630

I see ZERO CHANCE of US Unemployed going to %20 Won�t Happen......thankfully it won�t even get close :-)

For ALL of us Johnny, I hope and pray you are correct.

Rich

Johnny630 · #7 03-17-2020, 08:30 PM

Quote:

Originally Posted by Rich Klein

For ALL of us Johnny, I hope and pray you are correct.

Rich

Rich,

I hope and pray too :-) we all have to stick together and Keep America Strong

sbfinley · #8 03-17-2020, 08:01 PM

Quote:

Originally Posted by Johnny630

I see ZERO CHANCE of US Unemployed going to %20 Won�t Happen......thankfully it won�t even get close :-)

I also hope you are correct, but the service and retail sector is going to hit hard the longer this pandemic drags out. As someone in service sector operations I know the conference call I took yesterday was very bleak and I'm sure I wasn't the only one on a like that call recently. Do I believe "true" unemployment can reach 20% soon? Probably not. But I can absolutely see temporary layoffs and closures pushing the percentage of the workforce going a period of time without a full paycheck or without one completely well past 20%.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
The Monster Stock Market - Corner The Market for $150	frankbmd	T206 cards B/S/T	26	05-16-2017 12:58 PM
Does the stock market affect card prices?	Mountaineer1999	Postwar Baseball Cards Forum (Pre-1980)	17	01-21-2016 11:20 AM
Does the stock market affect card prices?	Mountaineer1999	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	36	01-15-2016 04:19 PM
Wanted: Flea market stock vintage cards memorabilia	GrayGhost	1920 to 1949 Baseball cards- B/S/T	0	05-08-2012 09:33 AM
Housing / Stock Market Affecting Card Market ??	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	11	09-09-2007 11:37 AM