Holds true for stocks and cards

[troutbum97]

Originally Posted by Bobbycee

or what happens when it does end.. Soft landing or hard?

IMO, it largely depends on which era of cards.

The bonkers in artificial scarce ultra-high $$ modern -vs- the bonkers in pre-war and 1950s high condition iconic HOFs, are two completely different types of bonkers.

I bet their landings after the bubble burst will be much different.


Just like the subprime / housing bubble of 2008-2009. The landing was much different in Boston or San Francisco compared to Vegas or Florida.

[egri]

Originally Posted by troutbum97

IMO, it largely depends on which era of cards.

The bonkers in artificial scarce ultra-high $$ modern -vs- the bonkers in pre-war and 1950s high condition iconic HOFs, are two completely different types of bonkers.

I bet their landings after the bubble burst will be much different.


Just like the subprime / housing bubble of 2008-2009. The landing was much different in Boston or San Francisco compared to Vegas or Florida.

I agree, and for vintage I don’t think we’ll see prices back to pre-pandemic levels. They’ll go down, but $1,000 cards that became $5,000 cards may only retreat back to $2-3,000. I think enough new people have been brought into the hobby to raise the floor.

[Snapolit1]

Originally Posted by egri

I agree, and for vintage I don’t think we’ll see prices back to pre-pandemic levels. They’ll go down, but $1,000 cards that became $5,000 cards may only retreat back to $2-3,000. I think enough new people have been brought into the hobby to raise the floor.

I think that's a pretty good call.

Where the real fun will be is the Wander Franco orange refractor cards, and the Jasson Dominguez cracked ice refractor, etc.

Imagine spending $80,000 on a card of one of these unproven guys and seeing them go up in flames. I guess one common refrain is anyone who buys one of these cards has money to burn, but not sure that's always true.

[55koufax]

Why not just get to the bottom line for us CA residents.......

1. A min 5 figure stimulus check from Joe Biden that is specifically to be spent on sportscards.

2. A min 4 figure check of the same from the brilliant CA Gov Gavin Newsome.

So when the crash is upon us, we will have been twice $$ stimulated to spend again (and again....)

[Snapolit1]

Yeah sure. It's outrageous to give money to unemployed working class folks. Much better when we gave it two years ago to poor people who needed enhanced tax deductions for racehorses and private jets.

Originally Posted by 55koufax

Why not just get to the bottom line for us CA residents.......

1. A min 5 figure stimulus check from Joe Biden that is specifically to be spent on sportscards.

2. A min 4 figure check of the same from the brilliant CA Gov Gavin Newsome.

So when the crash is upon us, we will have been twice $$ stimulated to spend again (and again....)

[tschock]

Originally Posted by Snapolit1

Yeah sure. It's outrageous to give money to unemployed working class folks. Much better when we gave it two years ago to poor people who needed enhanced tax deductions for racehorses and private jets.

Perhaps. But it was also outrageous to give stimulus money to people receiving a fixed income and/or disability. Their income was not impacted one whit by the virus.

[Rhotchkiss]

Sorry, I can’t help myself- the stimulus was/is an F-Ing joke. It is not “aid”, it’s stimulus, intended to kick start an economy that really was not doing bad. I am all for aid. But this was not aid. I have no problem giving money for people in need to pay rent, buy groceries, food and gas, etc. But this round of checks was not that. Like the first round, it was a total giveaway of an arbitrary amount of money based on arbitrary limits, with no regard to need or geography (latter point being $1000 goes much further in Arkansas than in Manhattan).

I pay a lot in taxes. And I am sure I will pay more under this administration. And I don’t mind that, if my money was being used properly. But just writing checks to people, in a decent economy, regardless of need or where they live and based on arbitrary income limits (having nothing to do with need), is 1000% wasteful and despicable.

As for the card market - people will get killed, totally crushed. As they will with stocks, and wines, and real estate, etc. I think we headed are off a cliff, which actually presents opportunity. I have felt this way for a long time. I knew the card market was in for it When random bankers and brokers stopped emailing me articles about cards and instead sent me pictures of the cards they recently invested in. That said, I think some cards (and stocks and real estate, etc) will hold up much better than others, and may actually increase in value. All that said, I don’t know shit......

[jgannon]

Originally Posted by Snapolit1

Yeah sure. It's outrageous to give money to unemployed working class folks. Much better when we gave it two years ago to poor people who needed enhanced tax deductions for racehorses and private jets.

I think your sardonic remark is right on the money. We have two economies here in the U.S. and many people really needed the stimulus. Through no fault of their own, millions lost their jobs - and their health insurance - during the pandemic. As mentioned by some on this thread, there may have been some people who didn't need the stimulus money, which incidentally was means-tested, but there were a whole lot who absolutely did. The stimulus wasn't a joke, but a lifeline for many. And probably unfortunately, only a temporary one.

[brian1961]

Well said, Mr. Luckey. You present another example (society's current collective sense) depicting decisions void of common sense are exceedingly common. -- Brian Powell