Observations on the current state of the hobby from a show this weekend

[ironfireman]

Originally Posted by ScooterD

Would just like an acknowledgment that the “pause” on this didn’t impact everyone, and some people continued to pay (as they were obligated to do so). Stating otherwise without qualifiers is spreading misinformation. I hope that’s not what happened here, and I was trying to make sure

Not trying to spread misinformation. Wasn't even aware of private student loans, but I guess they make up 7% of the student loan debt. I just know that a couple of my friends had their loans paused, forgiven, not forgiven and are now are going to HAVE to start paying again next month. It's 40 million people. So figure 40 million people are suddenly going to have 300-400 a month less to blow on stuff. I'd figure that could cut into the funds of 20-25% of buyers.

[anusinha]

Originally Posted by premium1981

All of that free money is also a big part of why everything is so expensive now.

Ftfy, printing trillions out of thin air and all of a sudden everything costs more, what a surprise.

[theshowandme]

Most of this hobby is fueled by credit cards and people chasing rewards/points.

People will not be consciously budgeting around their overpriced student loan payments.

[ironfireman]

Originally Posted by theshowandme

Most of this hobby is fueled by credit cards and people chasing rewards/points.

People will not be consciously budgeting around their overpriced student loan payments.

Probably nothing short of the stock market tanking would effect the level you operate at.

But I can't imagine buying cards on credit. Who here buys sports cards on credit? If so, I'd assume people pay those off monthly... I mean if you are paying for cards and letting that charge ride at whatever crazy percentage... that can't last long.
Bottom line. IF 20% or more card buying households suddenly have $350 less a month... combine with school stating back up, the bath Franco holders just took and the usual seasonal downturn - Also, COMC just did a 30% off submission special so I'd assume a lots of cards hitting the market just when baseball is at its usual seasonal low.
Feels like there might be some good prices this fall. Curious though if the Spring will see the usual boon...

[imbluestreak23]

The hobby was pretty blah today.

Only thing moving is Shoheis

[vegetable]

Originally Posted by anusinha

Ftfy, printing trillions out of thin air and all of a sudden everything costs more, what a surprise.

ok boomer

[Chicosbailbonds]

Some of these tables chock full of Ohtani, Trout, and Franco won’t have stellar sales for a while. The Panini football mess surely isn’t going to help. It will be interesting to see how things transpire this fall.

[theshowandme]

Originally Posted by theshowandme

Most of this hobby is fueled by credit cards and people chasing rewards/points.

People will not be consciously budgeting around their overpriced student loan payments.

Originally Posted by ironfireman

Probably nothing short of the stock market tanking would effect the level you operate at.

But I can't imagine buying cards on credit. Who here buys sports cards on credit? If so, I'd assume people pay those off monthly... I mean if you are paying for cards and letting that charge ride at whatever crazy percentage... that can't last long.
Bottom line. IF 20% or more card buying households suddenly have $350 less a month... combine with school stating back up, the bath Franco holders just took and the usual seasonal downturn - Also, COMC just did a 30% off submission special so I'd assume a lots of cards hitting the market just when baseball is at its usual seasonal low.
Feels like there might be some good prices this fall. Curious though if the Spring will see the usual boon...

Really appreciate that, as it is true. I am lucky to not care or be impacted by this stuff. I'll keep buying.

I think we would all be surprised (maybe not) at how much people use credit to fuel their hobby participation. Boxes, personal breaks, single purchases, etc. I think many folks barely have their heads above water financially and that is a scary position to be in.

Either way, I'll keep collecting and buying no matter what is going on.

[OhioLawyerF5]

Originally Posted by vegetable

ok boomer

This post made me sad.

To think that young people think it's a generational thing to understand economics. Explains a lot. And makes me terrified for the world my grandchildren will inherit.

[ThoseBackPages]

just wait unto The Fanatics Credit Card comes out

[KhalDrogo]

I use credit for every possible dollar I spend.

YOLO

[theredmenace]

Originally Posted by OhioLawyerF5

This post made me sad.

To think that young people think it's a generational thing to understand economics. Explains a lot. And makes me terrified for the world my grandchildren will inherit.

adult diapers are on aisle 8 sir

[NYBBFAN]

Originally Posted by ThoseBackPages

just wait unto The Fanatics Credit Card comes out

19.99% introductory APR. 29.99% after 12 months. Sounds like a Synchrony Bank special to me.

HAHAHA I researched after I typed this and it exists: https://www.mysynchrony.com/cmp-inde...store=fanatics

And it is indeed 29.99%... yeah. https://etail.mysynchrony.com/cs/gro...oc/e054945.pdf

[fishepa]

Originally Posted by vegetable

ok boomer

Except he's right, it's called economics.

[auctionjmm]

Originally Posted by KhalDrogo

I’ve enjoyed the student loan pause. Resuming just in time for my loans to be forgiven in November. Thanks for all the extra pauses Joe!

Mine aren't forgiven yet but I just found out all those useless base cards I wrote off in 2022 qualify me for 12 months of $0 payments, no interest, and another year of credit towards forgiveness. Happy to kick the can down the road another 12 months!

[theshowandme]

Originally Posted by KhalDrogo

I use credit for every possible dollar I spend.

YOLO

Same, minus rent, car, and medical expenses.

Many people cannot manage though.

[jkampis]

Originally Posted by premium1981

We shouldn't be sending trillions to other countries, and we shouldn't be bailing out big business either. These are all big parts of the reason why our economy is so messed up. Businesses don't fail when they suck. And consumers are given piles of free money they didn't earn and don't have to pay back loans they took out. All of that free money is also a big part of why this hobby is so expensive now. The same ones complaining about not being able to afford a box of 2023 Whatever Chrome are also the ones holding out their hands begging for more free things. Which, in turn, will make those boxes go even higher. People are just too dumb to realize its all a circle. The government could forgive every penny of debt that every American has and the majority would be right back in the same position a short period of time later. Stupid people make stupid decisions and the government can't fix that with money.

This

[jkampis]

Originally Posted by theredmenace

adult diapers are on aisle 8 sir

But in which aisle can you buy common sense?

[Neal]

Originally Posted by OhioLawyerF5

This post made me sad.



To think that young people think it's a generational thing to understand economics. Explains a lot. And makes me terrified for the world my grandchildren will inherit.

Yup



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[theshowandme]

In the next 60 days we have the following:

Burbank/Anaheim
Dallas
Philadelphia
Chantilly

It will be fun to hear how the big post-National shows go. I expect good sentiment.

Although I did hear some peliboys complaining about pricing and selection at the White Plains East Coast National.

[MiamiMarlinsFan]

Originally Posted by vegetable

ok boomer

I’m all for a good “OK Boomer” when Boomers are Boomering, but that’s not the case here. He was pointing out basic economics. It’s not even an opinion, it’s what literally happened these last two years.

[theshowandme]

I think card shows will be fine

[mfw13]

Originally Posted by OhioLawyerF5

This post made me sad.

To think that young people think it's a generational thing to understand economics. Explains a lot. And makes me terrified for the world my grandchildren will inherit.

As a former HS Economics teacher, I agree.

These days, a lot of states don't even require Economic to graduate. Neither do many colleges. And a lot of people do not have the basic math skills to understand economics anyway.

Economic/financial literacy is probably the most important life skill that policymakers don't bother to talk about....

[MiamiMarlinsFan]

Originally Posted by theshowandme

I think card shows will be fine

Honest question: when was the last time they weren’t fine?

I can speak to Comic Cons and say that they’ve kept chugging along over the decades through booms and crashes. There’s enough core collectors out there that it doesn’t matter how many short-term speculators are hovering at a given time.

[theredmenace]

Originally Posted by mfw13

As a former HS Economics teacher, I agree.

These days, a lot of states don't even require Economic to graduate. Neither do many colleges. And a lot of people do not have the basic math skills to understand economics anyway.

Economic/financial literacy is probably the most important life skill that policymakers don't bother to talk about....

It's practically illegal to teach political economy these days. Its neutered offspring, economics, is next on the chopping block.

Personally I can't wait until our high schools start offering a financial literacy course sponsored by MasterCard.