Will reality ever phase Cobra owners? (economic crisis)

madmaxx · #1 (**permalink**) 10-09-2008, 07:20 PM

Cobra was the best thing I ever bought last April, if I would have left the money where it was it would now be down 30%, I would hope an SPF with a Roush 427 is worth more than $42K so at worst I broke even with the market and I have a great toy to play with. I always told people pay off your house, everyone replied do not do that, you can get a better return in the market, wonder how the feel now. If you look at a graph of the market since 1990 it has been horrible unless you sold at the exact right time. The only method to wealth is brute force and ignorance, live below your means and save. IMHO the market is the least of our concerns, this whole economy is cracked, soon their will be tent cities, a depression may very well be at hand.

63mercury · #2 (**permalink**) 10-09-2008, 07:39 PM

Well, I'm also retired and fortunate to have a part time job which is paying for my Cobra build, when the economy turns around I may put the 63 Merc up for sale to get cash to finish the Cobra. We are also putting our house up for sale in the spring in hopes of moving to Arkansas so winters won't be as bad on the wifes RA, but for right now I'm still building and hunting down parts as I get the cash.

Carl.

Great Asp · #3 (**permalink**) 10-09-2008, 07:41 PM

I was talking to a lady today that said she was very worried about the shape of things in the economy.

I asked her if her life, or life style has been affected, she said no.

I asked her is anyone in her family or friends has been affected, evicted, or lost their job because of the Wall Street problems, she thought and said no.

I asked if she knew anyone, who knew anyone that had been effected, she said no.

I asked her if her life style has changed because of high gas cost, or the housing market issues, she thought and said no.

I asked her if she felt better, she said yes.

I am not stupid, there ARE real problems and it effects many people with loss of jobs, or housing (let's say you rent and pay your rent on time, and your landlord defaults), or retirement values. These people get blind-sided. But the media has a lot of people worked up when their mortages, their life style is not affected. Why partake in hand wringing if you are not at risk?

E