Musclecar prices and the possible recession
 

Just curious what everyone's take is on the Coronavirus effect possibly pushing the US and China into a recession as the markets are reacting negatively. The oil markets this morning dropping nearly 25% as OPEC increases production. All this reduces comsumers disposable income and could impact the musclecar hobby, pushing prices lower. In know here in Houston the economy is tied to the oil industry and when oil drops into the $30 a barrel range, the big companies stop drilling and spending in the short term. This trend could continue for the rest of the year.

That's interesting. I wonder how that negative to the oil industry affects the general population since they now have more disposable income because they're not spending it on gas. My bank relies a lot on the oil industry (heavily focused in Louisiana and some in Texas) so it may affect our bottom line to some degree as well.

If you look at the numbers though, CV isn't nearly as detrimental to the world as several prior viruses such as SARS and Ebola. Will be interesting to see how this all plays out.

Agree it’s going to be interesting how it all plays out. Wall Street has been taking it on the chin. Let’s see when it truly starts to hit Main Street. My 401k and retirement accounts have taken a hit. However I’m still currently working, so I don’t feel it in the my wallet yet. I had considered retiring this pass December and decided to plug along awhile longer. I am fortunate that I have paid sick time at work if it’s needed. Hopefully it won’t. There are plenty of people out there without paid sick time. That’s where it will become tricky. How many people can afford to stay home weeks at a time without a pay check. Scary stuff for sure. This is when it’s human nature to prioritize. Cars are a hobby. We will see. Let’s hope for the best, always need to plan for the worst. We will weather the storm. We always do. Rob

Saudi Arabia has gotten into a pissing match with Russia who refused to cut back on production. So SA has dropped the price of oil in an effort to gain back market share.

Saudis Instigate Oil-Price Clash With Russia

https://www.msn.com/en-us/news/world...cid=spartandhp

The Dow opened almost 1900 points down. This reflects the above and Italy putting tens of millions of people under lockdown in an effort to contain the virus

As far as muscle car prices . . . if things remain the same . . . what if they held an auction and no one showed up?

Today fear is running rampart. People are afraid to put themselves in large crowds. And that is exactly what an auction is.

Mecum's Glendale AZ auction starts two days from now. Let's see what happens.

Warmer climates have not seen a spike in the virus, however...

The general public is reacting to the virus in panic mode. Sales of Corona beer are down sharply yet it has nothing to do with the virus. It is simply because of the name of the beer. They are hearing that the % of deaths is higher than those from the yearly flu. If you look up the virus in AZ you see there are cases. 2 new ones in fact over the last two days.

All kinds of conferences, shows and gatherings are being canceled. There may actually be zero chance of anyone getting the virus at Mecum. But the public doesn't know this or is not willing to accept it.

That's because COVID-19 is killed by UV exposure in 2 seconds flat.

All Media driven at this point. When you are in a fight and you think you have hurt the other guy you keep hitting the guy in the same spot. The media delights these days in pushing the panic button and I have to give it to them they are pretty effective in stampeding people and pushing a narrative when they want to.

Is that accurate?

No,it's an internet rumor that has been floating around.
It's completely false.
Myth: Ultraviolet lamps kill the COVID-19 virus.
Fact: No, UV lamps do not sterilize hands or skins areas, and can actually cause irritation.
https://www.nationaljewish.org/patie...yths-and-facts

Health officials are recommending that you wash your hands for 30 seconds with soap and water. And wash them frequently.

You should only use hand sanitizer only if you do not have access to soap and water.

Avoid buffet lunch and dinner restaurants also.

As reported by the media of course.:grin:

1 person in Kansas City area with a confirmed case..she has isolated herself so, she hasnt had contact with anyone..but who knows the truth..its all over the news..and of course no concrete facts, just the news creating havoc..the articlebelow doesnt match the news i am watching right now...so who knows

https://www.kshb.com/news/local-news...ronavirus-case

This about sums it up.:tongue:

I'm still going to operate my business, still gonna drive my cars and still plan on riding my motorcycle through the Rockies again this summer. Oh, and I am well stocked on 9mm and .45 ACP in any eventuality that someone comes looking for my last roll of toilet paper. (Facts are, I will likely run out of toilet paper, but having lived for 54 years, I've pretty much learned how to wash my a$$ with soap and water)

As long as there's coffee to brew and air to breathe, I'm gonna go on living.

Nuff said!

Can someone with a health background explain something to me? The common flu kills 250,000 to 500,000 people worldwide and 36,000 people in the US annually. Pretty much every four years for the last 20 plus years we have had a major viral outbreak similar to this virus but it just seems this one they are going overboard with it. Why is this virus any different than any of the last 10 we have had and correct me if I am wrong, they are all pretty much similar in fatalities to the common flu or oddly enough even much less. I am beginning to believe this is just another way for the media to gain viewership and ratings. The last bad virus was the H1N1 virus and that 'only' killed 12,500 people in the US in a year which is 1/3 what the common flu kills every year. What am I missing here????

The difference between the flu and the virus is that the virus is looked upon by some as something that will get them their political results. More people died from the flu in the us today, than have been killed by the virus in total . Craziest part is people will pay 500.00 for clorox to combat the virus , but wont get a free flu shot to combat the flu .

this is from an article on coronavirus

"the global case fatality rate for the coronavirus is believed to be about 3.4 percent"

“By comparison, seasonal flu generally kills far fewer than 1 percent of those infected,”

“You know, the risk is this: We have a brand-new virus in a completely naive population on Earth; we’re all susceptible to it. Everyone is potentially infectable with this virus,” said Christopher Mores, a global health professor at George Washington University. “Even with a high transmission rate and the low case fatality rate, that still becomes a massive number of ill and fatal cases.”

The oil/ gas adds to the hysteria. I woke up today to watch my net worth drop again because of all the fake news widespread loss of common sense. Sheesh may have to go get a job or sell some cars:hmmm:

I wouldn't call Italy putting 16 million people under lockdown and Saudi Arabia dropping the price of a barrel of oil down to ~ $30 fake news.

The Dow is now down almost 2100 points.

"a completely naive population on Earth".............How true is this statement. It wasnt long ago that Hostess said they were stopping the production of twinkies,and they were being sold on ebay for thousands of dollars a box. People 70 years ago would have dealt with this alot better and smarter than the current population,I dont recall people here fighting over toilet paper and twinkies during WW2.

Sell your cars, buy oil futures. Then sell the oil in a few months ,double your money, and go buy your car back.

Unfortunately, due to social media most of the world suffers from "Lemming Syndrome."

Nah . . . sell cruise line and airline companies short. You won't have to wait a few months to make a killing. Maybe 3 or 4 days . . . if it's not already too late to do so.

My point is fake news drives panic and fear. The pace and frequency of “news” is like never before and that rhetoric creates a fake reality. It builds and builds this virus does not have people dropping like flies. Most deaths are folks that had underlying health issues. How many kids have died? Zero.

I like what Buffett said

“ We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

Cruise ship finally will dock in Florida today. All passengers (2500) will be tested. If you test positive you go into quarantine for 14 DAYS! And no . . . they will not put you up in a hotel.

I've had the flu a number of times. Lay in bed, snooze, eat chicken soup (only homemade) take some pills and lots of cough medicine/syrup.

But the last time I go it, it almost killed me. February 2016. Could not stop coughing, had trouble breathing so I drove myself to the hospital. Parked my car and started walking to the ER. Got halfway there when I ran out of breath and had to sit down on the tarmac. THANK GOD 2 ambulance drivers saw me. One rushed over and asked if I was OK while the other ran into the ER to grab a wheelchair. They got me in the wheelchair and I passed out.

1 hour later I woke up in Intensive care with a breathing tube down my throat, an oxygen mask on my face and 4 different drips going into the back of my hand. When they saw I had come to the removed the breathing tube and started feeding me Theraflu pills. I was on straight oxygen for 4 days. I could barely move any of my limbs let alone get out of bed.

I spent another 3 days there and was finally strong enough to walk up and down a 30 foot hallway 3X in a row. I also had to show them I could go to the bathroom by myself. The nurse hands me two containers . . . I ask what the second one is for . . . stool sample. "Lady I haven't eaten anything in 7 days! Forget about the stool sample." They had no idea that I was going to walk out to the parking lot, get in my car and drive home. I told them my son was coming to pick me up.

I had Oxygen delivered to my home and spent another week with one of those things that goes in your nose.

October 2016 I got a flu shot. And for 2017, 2018 and 2019. I will get one this October. No flu since then.

I was having some pretty bad health issues a few months ago. I was having serious high blood pressure issues. My Sugar was high and out of wack. Among a few other things. I have been in strict doctors care since. I am doing great now. So I asked him what about this. He said it is overplayed hugely by the media. Remember also, It is an election year. There are over 30,000 deaths in The US this year from the flu. Not a word etc. Mostly older people with already bad health issues. I am over 60 and not worried. Muscle Cars are doing real good. Housing is still great in my area that there is not enough for sale. All I know is My Stock is strong and I am not talking about Wall Street. I am talking about my Garage. Been that way for years.

Agree, I will back up the truck on crude if it hits 25 per barrel.

Posted on another site:

First 2 Coronavirus deaths recorded in Germany

WHO's Dr. Tedros says threat of pandemic has become "very real"

Confirmed cases near or pass 1,000 in France, Germany and Spain
US deaths hit 22

Canada reports first death in British Columbia

Germany state of Brandenburg has between 4k and 5k in home quarantine

Trump to meet with Wall Street CEOs Wednesday

South Korea imposes travel advisory, confirms another 96 cases; 3 new deaths (total: 54)

Hungary stops flights to and from Northern Italy

PM Johnsons says UK won't close parliament

Trump to hold WH meeting on fiscal stimulus

Italian PM promises "massive shock therapy" to save economy from coronavirus

Amazon asks employees in NY, NJ to work from home

Deutsche Bank cancels 150-year-anniversary celebrations

Dozens of flights leave northern Italy despite quarantine, even as airlines cancel routes

Moody's says US economy headed for recession

Cuomo confirms 142 new cases in New York State, bringing total confirmed in NYC to 19
NY has started making its own sanitizer

Columbia University cancels classes, Princeton moves lectures online
78 new public health labs open across US Monday

Spain PM says he will have 'emergency plan' to tackle outbreak

UK confirms another 45 cases

VP Pence will hold press conference at 5:30ET Monday

Amtrak shutters 'Acela Corridor'

Korean construction worker contracted by US military tests positive

Total number of cases jumps above 9,000 while deaths hit 463

'Grand Princess' docks in Oakland

Another cruise ship disaster might be shaping up in Fla.

Trump congratulates VP Pence via tweet

New cases in South Korea drop as Philippines case total doubles

EUCO President says conference call will be held to coordinate EU response

Germany and France finmins hold talks to discuss crisis

Missouri declares first "presumptive" positive Sunday night; father of patient breaks quarantine

Dutch infections climb to 321

And if you want some interesting reading, TRY THIS, says Corona Virus created in a lab in University of North Carolina in 2015 with a joint venture between China and USA with a Chinese DR. from Wuhan Province??

https://capitalisteric.wordpress.com...s-blunt-truth/

It is not fake. It is the way it is being pitched to the public. It is called lying by omission.

Saudi’s and Russia are in a Petro dollar pissing match right now and Iran and the proxy war in Yemen is front and center. Every one knew this was coming when the talks broke down over the weekend.

"And if you want some interesting reading, TRY THIS, says Corona Virus created in a lab in University of North Carolina in 2015 with a joint venture between China and USA with a Chinese DR. from Wuhan Province??"


The way I read it they did not create it but discovered it.

Charlie, the way I see it is 5th paragraph under AND NOW, states in the first line:

This virus was created at the University of North Carolina at Chapel Hill, and they published the highlights of their creation in November 2015.

So it looks like UNC with China and Fort Detrick!!!!!!

I agree with most of the post here and feel this is a nothing but a big hail mary by the media who desperately don't want to see Trump get re-elected.

I agree any virus should be taken seriously but I think carnut4life has just summed it up very accurately.

https://www.cdc.gov/coronavirus/2019-nCoV/summary.html

I think it's generally agreed within the medical community that SARS, MERS, COVID19 and other corona viruses began from bats, passed on to animals, then to humans. Reports I saw from the CDC today said that also. If you read the above link above it says the same.

I think the concern with this one, as opposed to SARS, MERS or the common flu is the fact that this one is so much more easily transmitted from person to person. At this point the
Incidence of death is about 3% as opposed to flu being 1%, but the CDC expects it to fall to 1% long term.

One good thing is, it seems to have little serious effect on children and younger people in good health, hopefully it stays that way.

If it was just a anti Trump media thing you would not see Italy close it's borders etc. Let's leave politics out of this discussion.

Am I the only one who sees hysteria on this forum? :naughty:

"Let's leave politics out of this discussion."........WE can, but the media wont .
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