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996 and the Economy...politics...a rant

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Old 10-23-2008 | 07:05 AM
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996 and the Economy...politics...a rant

Well I have read enough about mufflers here lately with all kinds of drama.
So for a change of subject,
Anyone else here getting a little nervous about our economic situation and watching the value of every single thing going down? I believe we are in a recession and the Gov't has this denial issue going on admitting this. I have worked my @$$ off the past 20years, built up a nice retirement just to see it performance at a all time low. I am diverse in my portfolio, but this does not seem to matter at this point. World Credit amrkets are in turmoil over lending with little $$$ changing hands...My 996 car is worth a lot less today than it was 4mos ago.....pitifully less. The value will continue to drop, but the repair bills will not....what is wrong with this picture?
Thank god I have some cash reserves built up that will carry me and my family for a few years, but I feel bad for those that do not. The good news is that cash is king and buying power is increasing daily. Bartering, haggling are now starting to become widely acceptable. And I check values on all different things daily, amazing what prices are coming down to. And when the Dow hits below 8500 like yesterday it is the time to buy decent stocks - for the first time I look forward to the Dow dropping to 8000, only for this reason.
Hmmmm the next President....it won't matter too much, the Democratic Congress will make all decisions and Socialism is coming folks.....who wants Nancy Pelosi to come to their house for dinner?
Well I am not sure who else is feeling pain but it will get better.....it's like getting bent over at the doctors office...."bend over and cough" You know it is going to hurt but the pain only last a moment...well maybe a few moments.
Lets all wonder how much worse it is going to get and how much longer it will last.
 
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Old 10-23-2008 | 07:09 AM
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Only thing going up in my perspective is the dollar is against the euro.
 
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Old 10-23-2008 | 08:07 AM
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Don't we have an off topic section for this kind of post?
 
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Old 10-23-2008 | 08:15 AM
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Muffler drama??? whatever are you talking about David??

I think everyone is feeing it to some degree- Some certainly more than others.
It is my humble opionion this will get worse before it gets better. We still have a lot of "uncertainty" going forward- The markets do not like uncertainty. -Change of Presidency, endless politically-based war (more of an occupation, really), weak dollar, housing bubble, homeowners in distress, huge federal deficit, taxpayers taking on the burden a 700 billion dollar wallstreet bailout, etc etc. - A lot of unfavorable factors all culminating at once. Very tough environment indeed for the average American.
Good 'ol George W. leaves the people with a legacy of ruin that will remind us of of his terms in office for years to come.

This said, I probably won't be picking up a new pcar for a while- If you don't have to sell your pcar, don't. If you have cash to buy one, it's a great time
 

Last edited by p0rsch3; 10-23-2008 at 08:17 AM.
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Old 10-23-2008 | 08:17 AM
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here is an indication of the economy...

08 z06 for 55k with 1800 miles

http://cgi.ebay.com/ebaymotors/ws/eB...m32#ht_835wt_0
 
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Old 10-23-2008 | 08:25 AM
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Originally Posted by nine9six
Don't we have an off topic section for this kind of post?
I thought about this also - so i tried to keep it 996 specific...I missed, sorry
So hope this helps get this back on track
What do you all think my 32k mile C2 996 is worth? Assume it is in perfect mechanical shape way above avg with a bunch of aftermkt crap on it
Wholesale?
Retail?

my guess: I have not looked at the NADA book...I'm scared
Wholesale - 18-22k
retail - 24-27k
 
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Old 10-23-2008 | 08:32 AM
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Hmm- I thought it was on topic, your point in the OP was your 996 is not worth much now due to the surrounding economical climate. I agree. If you don't have to sell it, don't. The climate will turn around eventually, best thing to do (sometimes easier said than done) is just tough it out.
 
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Old 10-23-2008 | 08:59 AM
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here is something that feels better.....

NADA Rough Trade in/ Average Trade in/ Clean Trade in/ Retail
$23,400 $26,075 $28,325 $32,200*
 

Last edited by YoopsRacing; 10-23-2008 at 09:04 AM.
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Old 10-23-2008 | 04:02 PM
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Originally Posted by YoopsRacing
Hmmmm the next President....it won't matter too much, the Democratic Congress will make all decisions and Socialism is coming folks.....who wants Nancy Pelosi to come to their house for dinner?
Socialism is here. You have privatized profits on wall street and socialized losses. Did it come from a republican or democrat - no, it came from both sides letting lobbyists determine policy (that meets the needs of their well-paid clients - not the American voter).

Should you be mad because you made wise choices and can hold down a job; and are now expected to bail out retards who spent more than they should have - and retards on wall street who risked far more than the should have? Absolutely.

Does the next president matter. Hell yes. There're fundamental differences in policy between the two. But blaming democrats for having two years of a majority in congress hardly seems fair given republicans have opened up the largest deficit ever the six years prior - and were presided over by a no-bill-I-didn't-like, no-war-I-didn't-like president.

You can be mad. You should be mad. But pointing to Pelosi is as ignorant and simple minded as worrying about your Porsche's value - when your job could be gone tomorrow, and your home is worth far less than it was when you bought it. And what you should consider wisely is: what policy you want in the next administration?
 
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