The Depression of 2008

[Archive]

Posted By: Bob C

Bruce,
Right or wrong, you have a flair for the obvious.
This hobby is, for the most part, financed by discretionary income.
Due to the nexus of failing/consolidating banks, oversupply of housing, $1,000 gold, $4.00+ gasoline, rising foreclosures, higher food prices and mounting job losses, discretionary income is hit hard for many people.
The only possible positive glimmer is the Fed keeping interest rates low, but that could only be throwing gasoline on the fire, putting off the fallout of the credit debacle until another day. And that day will come to be sure. And those $600 checks we are all waiting for? Not the answer to a maiden's call under these cirumstances. What does that buy you, really?
My younger brother used to own a highly successful custom furniture manufacturing company. Each piece was hand made to order.
He once told me the following and I will substitute one word:
“When times get tough, you can’t eat sportscards”
Interesting times we are in.