LMAO at jm.......that was funny.
LMAO... I was thinking the same thing when I first saw this d-bags post, but didn't want to be the first to say it. I'm a noob here so didn't want to get banned or anything. But since you let the truth out, well, lol.
Amen to that. I am a currency trader and follow economics in a major way. We are in for a long and deep recession and Obama and Bernanke are making it worse. Sorry for those who have lost and will loose jobs. I have been there when I needed jobs and I don't wish it on anyone. However that being said, it will also be an incredible opportunity for those who do have money. Some of the wealthiest people in history were made during the Great Depression. As long as Chase bank doesn't fail (my investing account is with them) then I will be in the new generation of the wealthiest. Delay gratification has been very tough at times but I know it will pay off. Just thought it was awesome someone else sees the truth about the economy and is brave enough to speak his mind. As far as the original post, sure prices are falling and will fall further but they will not get that low.
While I too envision a bong next to the mouse while the original poster typed away, depending on your perspective he might not be that far off. Let us say the bottom end for a functional but not perfect 360 is $75k today. Perhaps in another year or two that bottom end is $60k? Impossible you say? 550's are already there and only 2 years older (1997 vs 1999 model year). Prices are slow to appreciate, even if they bottom then. Most likely they will stay at $60k or even less for several years. So what is $60k in a few years worth in today's dollars after all the Fed's QE eventually leads to rapid inflation? It would only take a handful of years of 10% inflation to reduce the buying power of your dollar in half (about the end of Obama's second term). So that $60k 360 you buy in 2015 may only cost $30k in today's dollars. If anyone has $60k then. My grandfather talked of the GD and the low prices. He said "you could rent farm land for a dollar an acre, but nobody had a dollar." This also assumes that foreign demand doesn't snap up all the exotics and export them from the US. If the dollar tanks relative to other currencies they may see some incredible deals here.
BTW, I thought I would add that IMO Ferrari will fare far better in the resale game than most other high-end brands. There are just so many extremely nice cars that have been made in the last 10 years, but Ferrari has a cachet that really no one else has. Maybe Lamborghini will hold up OK, but the "exotics" made buy mainstream manufacturers (Bentley GT, Audi R8, Nissan GT-R, et al) will see some spectacular depreciation in the next few years. Cars like the Maserati coupe will bottom out around $12k for a manual, and be throwaway parts cars if they have a blown F1 transmission.
It means that I'm not bothered about the value of my car tanking and people asking whether it is going to go any lower. Onno
I totally agree with the above post, even the economics lesson (taking me back to college econ, which makes me sweat). All were true, especially the last one, if you have a 360, smile, get in it and drive and do not worry about the price.
Maybe you and Woojer should start your own site. You know the one that only allows guys to join (i.e., Riceburnerchat.com) who don't actually own a Ferrai but either wash the windows of them or gas them up but still like to comment....
I totally agree with you. At this pace, 360s WILL be $25k-35k and Stradale's will be had at $10k more.
Forex you're on point bro. People in this country don't even understand what kind of **** we're really in. They don't realize that the real problem in this country stems from the gov't and the federal reserve system. Obama isn't going to fix it he is making things worse. Bernanke is on track to surpass Greenspan as the worst federal reserve chairman in history. The gov't is not here to do any of us favors, they are here to protect their own vested interest at whatever cost. That being said, absent going into any seroius economic lessons, what we're seeing now is serious asset deflation in things we don't need. This is going to continue as the fed tries to artifically hold interest rates low by quatitative easing, and the treasury thinks that the US is going to borrow its way into prosperity. Eventually this will fail. Interest rates will rise dramatically because there will be a Dollar Crisis. This is when the US Gov't will be effectively bankrupt. Interest rates will rise dramatically, and we will see bankrupties like never before at all levels of our society. Businesses will bankrupt, individuals will bankrupt and our entire economic system which is based on consumption will fail. You guys think your home prices are in the toilet now? Just wait and watch. People are yapping that inflation is coming because of the huge increase in the money supply, but they are only partially right. We're going to see a wicked combination of inflation in things that we need, and deflation in our luxury items. Things like oil, food, and other necessities are going to continue to rise in price for those of us who tender in US Dollars. Other luxury items that we really don't need are going to continue to deflate steadily and surely. Now what does this mean for our Ferrari values? Comrades - I hate to say it because I am a ferrari owner myself, but let's not kid ourselves. They are doomed. If you're on the sidelines right now waiting to purchase, i suggest you kick back, relax and enjoy the show. As owners become more and more economically distressed, prices are going in only one direction. Unfotunately we're generally a nation of imbeciles. If people really had an understanding of what the US Gov't and federal reserve is doing, they would realize that they should be in the streets with guns in the air. Gentlemen mind your business and mind your money. Open your eyes. Realize what is happening around us. Take care of yourselves and your families. Remember - current policies create future trends. Bobby
Well said my friend i agree things will not get better for a long while and hopefully it will get better...but who really knows.
No Nothing for me to get over. Find it kinda strange that a Porsche dealer needs F-cars to attract clientele? When was the last time you saw a Porsche on A Ferrari dealer's lot. Like I said before this whole thing is trashy. Ferrari's are work of art to be cherished by those who can respect them, not by those who consider to drive them to Walmart as the Porsche Boxter/Cayman and 977 customers do!
If someone driving a Ferrari to walmart is trashy and doing so should be left to Porsche owners, its people like you and your I'm better than everyone else attitude who make so many people Ferrari haters. You might be a good guy in person, but your post is extremely snobbish and makes you sound like a stuck up prick.
I don't believe I am better than anyone and if I came off that way I am sorry. I guess I got frustrated reading the crap on this thread and turned me into a snob, it's so not me. All I want to do is enjoy my car and understand it better, that is why I come here. If you guys can pick up a 360 for 25K then so be it, I'm happy for you all. Can we put an end to this foolishness and get back to the business of enjoying our cars? Over and out.
I personally think when we see this occur in a thread we should put our "stamp of approval" on it and call it what it really is...Dopey...along with the following picture: Image Unavailable, Please Login
Glad to hear that. It did sound pretty snobbish to me; a guy who has taken his 360 spider to Wal-Mart numerous times.
Can't the Mod find this guys IP address and permanently ban him for being a troll, we know that all he does is come here to start trouble.
I agree with most of what you say, but have you been around or driven a 997TT? They are exceptional cars. I shop at Super Target so no offense taken.
(I know that I will get ragged on for asking this but,) Bobby.......I am curious, where do you suggest putting money if what you are saying is true? Gold..??
My 430 has been to many stores, including Wal Mart and a hole in the wall Mexican restuarant many times. Ferrari of Denver has a Porsche or two on hand most of the time. I recently added a Cayman S to my garage and the 430 and 328 don't seem resentful or snobbish about it. Dave
