The financial crash and Ebay

[jduran1]

So when people have to hide cash under their bed what happens to Ebay. Or does ebay become a barter economy leader...............

[Flaming_Telepath]

I have kept pretty mum about the financial problems, but i will lay in my two cents. After going through September 11, 2001, this country can weather the tide of anything. It may be painful and it may be far-reaching, but we will plow through. 9/11 was unbelievably devasting financially for small businesses, particularly in the Midwest. Established, successful small businesses were hammered by 9/11. It didn't get as much pub as this financial crisis. Large business getting pounded is much better news. We must tighten our belts and we must curtail our reliance upon debt. We will get through this.

 

Sean, I think you're underplaying this...by a long margin.

 

Whilst 9/11 certainly had a huge impact, it was focused very much on the US economy. This time around, what was started by the US sub-prime market has swept across the globe and banks in the UK, Belgium & Germany have today (yes, just today alone) gone to the wall. This is Doomsday type stuff, threatening the whole fabric of how the world does business with each other.

 

On the topic of eBay, this would and should be a time when it comes into its own. It should provide a means by which folk can raise a bit of extra cash by shifting unwanted items to people who need them but can't afford them at retail prices.

 

Or it would do, if it was the eBay of 2001. Unfortunately, the small seller is not wanted on eBay any longer. Yet another example of 'big business mentality'.

[Old Fashion PB and J]

THAT is the big picture. And just cant be blamed solely on the US economy. Wall street is invested around the world, these decisions were made with the interest of individuals. Unfortunately the masses will pay. There oops has effected every single person one way or the other. And if it hasnt yet, cross your fingers.

 

The big problem will now be the domino effect. The decisions of few will effect many. The mortgage is one factor, the stock market is the other. All the money speculators made is probably shrinking as we speak. What will happen next, who knows. But it IS going to effect the worlds business trade. The US is a nation of consumers that because of prices, and expenses are not buying. So it is creating a ripple effect. Credit companies also just kept giving to people who couldnt pony up, that creates a loss also. And the money they lst is more of that BIG picture.

 

This is not like 9/11 . I dont know what this is going to turn into. But things are not looking up right now.

[seanfingh]

I have kept pretty mum about the financial problems, but i will lay in my two cents. After going through September 11, 2001, this country can weather the tide of anything. It may be painful and it may be far-reaching, but we will plow through. 9/11 was unbelievably devasting financially for small businesses, particularly in the Midwest. Established, successful small businesses were hammered by 9/11. It didn't get as much pub as this financial crisis. Large business getting pounded is much better news. We must tighten our belts and we must curtail our reliance upon debt. We will get through this.

 

Sean, I think you're underplaying this...by a long margin.

 

Whilst 9/11 certainly had a huge impact, it was focused very much on the US economy. This time around, what was started by the US sub-prime market has swept across the globe and banks in the UK, Belgium & Germany have today (yes, just today alone) gone to the wall. This is Doomsday type stuff, threatening the whole fabric of how the world does business with each other.

 

 

Perhaps. I can wax Pollyanna-ish from time to time. You certainly are correct with regard to the fact that I have been looking at it from a US-centric perspective. I still remain hopeful.

[cujobyte]

I just posted this in another thread, for those that have already read it I apologize.

 

 

 

 

Originally Posted By: bergdoll

Oh - I should add. The economic turn-down is unlikely to result in any key GA books being dumped on the market. Most are in the hands of the affluent and this market doesn't tend to require liquidation of assets during economic adjustments.

 

It is mostly the less affluent, investors and speculators that find themselves in liquidity crunches and start selling assets.

 

 

 

 

 

I completely agree with this. I think in the next two years you will see a lot of collections bought and sold. Sold by those who are unfortunate in losing their jobs, etc. And bought by the bigger fish who can not only afford these bad times, but take advantage of these bad times. People are losing their jobs left and right, the dow alone is down over 700 points today, the biggest one day loss in our history. Looks like comic sales overall have been very strong these past several years, and ridiculously high these past six months. We can only see what the U.S. future holds for us collectors and investors.

 

[cujobyte]

Oh, wanted to tell one more thing. There is a Charley Rose show, here in the U.S., two-three weeks ago he had on 3 of the most important economists of our times. You should all watch it, I believe the date was Sept. 8th, a Tuesday perhaps? Anyways very interesting, you can find it on his site.

[steveout22]

Here is an on topic response for everybody:

 

I sell comics on ebay.

 

Sales were averaging 400$ a week before this mess.

 

Sales currently at about 95$ a week.

 

I sell modern books, two dollar books, exactly the kind of product that might be considered "those little extras" that everybody might want to cut out of their budget now that this monsterous recession which nobody wants to call a potential depression is looming.

 

My only strategy is to open my store up to foriegn markets, and hope that this added base will compensate. After I do all the work to get that done I will see what the numbers look like. I was a growing business, in the process of expanding my inventory up to something that could produce a liveable income. But if the numbers don't add up in a few weeks I am going to have to bail out myself.

 

With all that, I am happy that this bill to bailout Wall Street did not pass today, even though in the short term it will hurt what I am trying to do. I believe that it would not address the deeper problems within the economic system, and would only add to economic woes of the American people in the long term sense.

[benz]

When I woke up today, I was thinking of bidding some books from the CC auction. After seeing the stock markets take a nose dive and with all the financial jitters around, I decided just to simply watch from the sidelines.

[KingOfRulers]

I know I am in the "house of pain" with the stock market right now. But at the end of the day it is part of the risk of doing business. I am not worried at all. It is times like these where many people plant the investment seed to bring in a huge money harvest in a couple of years.

 

Whether the current panic is justified or not, has it affected eBay sales? For me it has. I haven't had a sale out of my eBay store since Sept. 2nd. Whether that is by chance or not, I don't know.

[Comicdey]

I just bought more of certain stocks I'm watching, and if it goes down tomorrow, and further.....I'll dollar cost average in to the bottom, and then ride them all up again over the next 3-5 years..............if you have time, the right approach is to be looking for solid companies that are being pulled down the the tides.

[KingOfRulers]

Yeah, I did some investing last week in AIG. It started out going well doing a couple quick flips, but took a nose dive after doing a bulk purchase. Now I am locked in for at least the next few weeks I'm guessing.

[Mr. Zipper]

I just bought more of certain stocks I'm watching, and if it goes down tomorrow, and further.....I'll dollar cost average in to the bottom, and then ride them all up again over the next 3-5 years..............if you have time, the right approach is to be looking for solid companies that are being pulled down the the tides.

 

I don't know if it was the wisest move, but I bought a few hundred shares of AIG at a little over $2 a share. If they survive and the stock goes up to even $10, I can make thousands. If they don't, well, I am out a few hundred dollars.

 

Catch a falling knife...

 

[KingOfRulers]

I just bought more of certain stocks I'm watching, and if it goes down tomorrow, and further.....I'll dollar cost average in to the bottom, and then ride them all up again over the next 3-5 years..............if you have time, the right approach is to be looking for solid companies that are being pulled down the the tides.

 

I don't know if it was the wisest move, but I bought a few hundred shares of AIG at a little over $2 a share. If they survive and the stock goes up to even $10, I can make thousands. If they don't, well, I am out a few hundred dollars.

 

Catch a falling knife...

 

 

Lucky you. I was only able to snag a minimal amount of shares at $2.05. I wasn't able to shuffle the funds around and get in on the action until it was about $4.60. Lets hope it survives the purge

[Comicdey]

I just left AIG alone....there are other stronger stocks being pulled down to invest in.

[jduran1]

We as americans were upset over a 700 billion cost to divest firms of their mortgage portfolios. We lost 1 trillion dollars in our investments today with the Dow down 777 points. 1 Trillion dollars in pensions, money markets, stocks etc is gone poof........... Someone help me on understand this...........and the way certain Americans are thinking.

[jduran1]

That has happened to me as well. Who else sees this.............

[VintageComics]

I think to start with, the problem was that so many millions of honest hardworking people decided to put all their money into other people's hands to work for them, and then these same millions of people simply believed their money would be there waiting for them after decades. How can anyone guarantee to you or I what will happen tomorrow. They can't.

 

I personally saw through that years ago and decided not to put a single penny into anything intagible. I'm feeling pretty good about that right now.

 

 

I don't mean to be flippant.

 

What is happening really sucks but in reality the only way the average consumer can help is to continue to spend. I could be wrong as I'm not educated in money markets but that is my logic telling me what would be the best thing right now. If everyone bottles up spending and starts selling everything off you just add to the problem, don't you?

 

Correct me if I'm wrong.

 

 

 

R.

 

 

[Thegoldenage]

If you were at the Baltimore con this weekend, it seemed as if there was no problems w/ the economy. 99% of the sellers wanted full price or more for "really good" stuff...........(

 

Sellers asking prices have nothing to do with the economy. They can ask whatever they want. It doesn't mean they are getting it.

[Thegoldenage]

I have kept pretty mum about the financial problems, but i will lay in my two cents. After going through September 11, 2001, this country can weather the tide of anything. It may be painful and it may be far-reaching, but we will plow through. 9/11 was unbelievably devasting financially for small businesses, particularly in the Midwest. Established, successful small businesses were hammered by 9/11. It didn't get as much pub as this financial crisis. Large business getting pounded is much better news. We must tighten our belts and we must curtail our reliance upon debt. We will get through this.

 

In terms of it's overall effect on people, 9/11 pales in comparison to the Great Depression.

[genrlzod]

Personally I just increased my 401K contribution. I feel that the basics are still there and since I have a long time before I retire it just makes sense to invest more.