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Peter G

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Posts posted by Peter G

    Heritage June Auction

    in Original Comic Art

    Posted

    On 6/18/2022 at 12:09 AM, Humpty-Dumpty said:

    The people have been brainwashed by 100+ years of the Fed banking system. Inflation is an integral part of this system, yet it need not be part of a healthy economic system, including even this broken system. Even the business cycle is not what they have drummed into the minds of people, yet we just accept it because that is all we know. This not due to covid or even the 2008 recession, although they play a primary role. This is due to decades and decades of a fiat based system which went off the gold standard in 1971. These are the core reasons. Most every other explanation is essentially financial mumble jumble that they like to throw at us, and that the talking heads parrot.. This is what they like to do, confuse people with their double talk finance speak, to distract them from the real issues. 

    The economic system is anything but grounded. We do not have full employment. I don't know what you are looking at, but the opposite of what you are stating is the real economic elements. This is not cost inflation; or maybe on the peripheral you can say it is, yet fundamentally this is politically induced inflation. This inflation cannot come under control until two things happen. One we need to raise interest rates at the same level of the inflation rates, which is at about 20%. Two, we need to regain our political footing regarding the economy, which is extremely unlikely at this time. In raising interest rates to 20%, you can say goodbye to any chance of reviving the economy. Yet this is how the Fed has trapped itself. They can not save this economy no matter what they do, because of their actions over the last 25 to 50 years, and again, they know it. We long ago reached the point of no return. Did it ever occur to you they are purposely and systematically destroying this current system? 

    My hero 🥰

    Heritage June Auction

    in Original Comic Art

    Posted

    On 6/17/2022 at 6:35 PM, Rick2you2 said:

    Most of the economy is controlled by consumer buys and sells, not the state. 

    And therein lies the crux of our disagreement. In my estimate, this economy is all mostly central planned by the state and only masked by a very thin patina of private free enterprise.

    Heritage June Auction

    in Original Comic Art

    Posted

    On 6/17/2022 at 5:32 PM, Rick2you2 said:

    Spoken like a gold bug . Inflation is a necessary part of the economic system in order to counterbalance technological improvements and increased efficiencies which increase the value of what they buy, while reducing the cost to produce. Inflation means people have to improve their absolute income in order to maintain relative wealth. The Fed these days is okay with 2%, and can tolerate 3%. What we are seeing now is also the result of a pumped up economy on funds that saved us from a COVID induced depression—add money to the system so it doesn’t freeze up like it did to trigger the Great Depression. But, we also have our wonderful politicians, and Fed, who helped prime the pump after the Great Recession, and never fully pulled back spending afterward. Then, throw in market dominating companies who have pricing power. They Hoover up capital, helping to make the rich richer, and the rich then put their money in collectibles. 
     

    I agree that collectibles are overpriced, but I don’t have the same “gloom and doom” attitude about the rest. We live on a relative scale, and the economic system remains grounded—except in the financial markets, including collectibles. We have full employment, with labor actually pushing back with union backing. We have cost inflation, but the very latest reads show a consumer pushback on costs is starting. Reports on housing in the last 2 weeks or so show softening in some places. In 6 months or less, that type of inflation will be under control if fossil fuels get under control. But if price/earnings ratios return to what they were 10 years ago, there will be a whole lotta hurt in the stock market.
     

     

    Statist drivel

    Heritage June Auction

    in Original Comic Art

    Posted

    On 6/17/2022 at 1:17 PM, Humpty-Dumpty said:

    Just about every collectible is wildly overvalued.at this point in time. As you mentioned Gene, there has been way to much money printed in the last 14 years. The Untied States can never repay its debt to the Fed central bank, a bank in which the Untied States actually has only a small minority share in, and whose charter is to keep people employed and maintain the stability of the dollar. Currently they are failing in the former, and have overseen the erosion of the dollars value to the tune of 97% since 1913. So obviously they have failed spectacularly in the latter. We can not continue as a country of debtors. The current real inflation rate is closer to 20% then the phony 8% they are putting out there. We are heading into (or may be already in) not only a recession but maybe even a depression. And no, the central bank can not do anything to prevent it this time. And they know it. They have taken this economy past the point of no return. The dollar is already on the way to losing it's reserve currency status, which is about the only thing that is preventing us from free falling. It is clear that the days of the dollars reign are coming to an end. I feel sorry for people that have purchased collectibles in the last 1.5 years or so thinking they have a long term blue chip investment. Maybe some of the best of the best collectibles will whether the storm, but around 90%, 95% of what is out there will not fare well. The collectibles market across the board is going to not just soften, but probably crash in the next 6 to 16 months. Many of the prices realized at auction have no real core under lying basis. This economic system has been shaky since the late 90's and has been on life support since 2008. This current economic system itself is not sustainable, and I fully expect a non fed bank, government printed currency, asset backed system to return to America, probably beginning sometime in late 2023 or early mid 2024, with the transition taking place maybe over 6 months to a years time(?). 

    (worship):golfclap:

    From the NY Times : Vincent Zurzolo article

    in Golden Age Comic Books

    Posted

    On 5/9/2022 at 3:41 PM, Bronty said:

    The article about the comic book dealer is admittedly heavy on lifestyle and light on comics.    That being said, its supposed to be a "how this new yorker spends his sunday" article, so from my POV its basically understandable.    Its for a wide audience. 

    If that was an article in a comic book trade magazine/website of some sort, ie for a narrow audience, I'd probably agree with you.

    I.e. the day that that say (Gemstone's) Scoop starts posting skin care routines, yeah, I'm probably mocking it too. 

    Haha. I’m not trying to recruit anybody to my side of the boat. You can stay on your side. It’s ok. 😘

    From the NY Times : Vincent Zurzolo article

    in Golden Age Comic Books

    Posted

    On 5/9/2022 at 1:34 PM, Bronty said:

    In fairness, I understand what you're saying.    Everyone writes all sorts of "look at me" posts everywhere these days.   But I also understand he's promoting his business and if talking about moisturizing gets him in the paper, then he's got to stay hydrated (shrug)

    I see that side of it too Bronty. I’m not oblivious to the value of transforming the old fashioned notion of a comic book dealer into a full fledged “life style” brand. It’s probably smart business. But the article and all the subtext associated with it are just too perverse and too ridiculous not to be mocked. And if some of my comments appear mean spirited it’s just because of personal experiences and philosophical differences that are probably better to restrain going forward, lest it appear that I am merely a “negative” to Vincent’s albeit fake, “positive”.