/biz/ - Business & Finance

>>55496634
I'm just not gonna sell is all

The car dealers overpaid for their inventory 1-2 years ago,and now they are holding the bag.

>>55496634
>the hammer is getting ready to drop on the markets

will the hammer drop? Or will the economy continue with more money printing, same pointless jobs, just people buying less things because everything is so much more expensive

>Sell crypto, hold cash
Um, no. The only thing stinkier than a linky is USD and the creature from Jekyll island.

don't care
still driving the same ecoshitbox i've had for 10 years now (the car is 30+ years old btw)
literally do basic maintenance and it will last longer than 4chan

>no one is buying used cars in my literal who town
>SELL SELL SELL

I had 8k this month tried playing alts and lost 6k of it
just capitulated and paid my bills off got 1k left.
I hate life.

>>55496634
I lost my job today lol

>>55496911
>911
confirmed

In times like these shouldn't one invest in stuff that actually produces things people need? IIRC stuff like pharmaceuticals, food and hygiene industry does well in recessions.

bitcoin will be the safe haven

I'm waiting for shit to hit the fan before signing any loan longer than a year.

>>55496911
911 was an inside job. so there's always that.

people have been saying this for a few years now and nothing ever happens.

>>55497051
that only means it's getting closer!

2 more weeks

>>55496673
one leads to the other friend,

Everything is on "sale" but still wildly overpriced compared to a few years ago.

This describes basically everything in the economy. The extra COVID money is long gone yet everyone still thinks their shit is worth more than it is. It's inflation caused by greed and delusion.

2

more

weeks

As long as people are paying rent and paying their mortgages none of this shit matters

American wealth is like 90% real estate at this point
Not a single person has to buy any product for the next 10 years and nothing will change as long as those boomers get their monthly checks

>>55497104
>>55496634
Friend of mine has been unemployed for going on three months now. He got fired from an insurance job. Tried to get other insurance jobs, couldn't get shit. He's in his 30s with multiple degrees and is struggling to get a job that pays much more than 20 per hour. I have a feeling things are kinda fucked, and it seems like we're now in a period that was similar to 2008 to 2014, when pay was low and getting a job was actually a serious challenge

>>55496694
we got 8 salesmen in my new car dealership in the gay area and these niggas hiring even more.

It's because OP lives in a literal who town.

When you guys grow up and live in the real world, you'll understand the world moves on after every 4chan major economic boom or depression type call. Businesses will survive another day while you guys hold your chainlink bags and gme waiting for shit to blow up around you and you becoming vindicated.

I say this as a gme baggie faggot. Get off 4chan and make money you niggers.

>>55496634
Thanks, just sold all my fiat for real money.

>>55497129
yup. we either get deflation, wages rise (lol) or shit hits the fan

>every single used car lot in my town is packed to the brim and with massive "sales" yet nothing is moving, just spoke to a salesman who says they are close to bankruptcy.
>we are already knee deep in a fucking recession

same everywhere, this cant go on for much longer. correction is comming!

>>55497330
>comparing GME to actual investments

>>55496634
I literally sell cars for a living and business is booming. I've been making tons in commission this last couple months. OP is a faggot

>>55496634
>just spoke to a salesman who says they are close to bankruptcy.
Why would some salesman tell details about their business to some 300lbs 30 year old incel who brings their mom with them to a dealership?

Looks like only fans dried up, but that smell will never come out of the carpet

>>55497779
>chainlink bag
>An actual investment

>>55496634
>every single used car lot in my town is packed to the brim and with massive "sales" yet nothing is moving, just spoke to a salesman who says they are close to bankruptcy.
Prices need to be lower kek.

All these boomer-run genx-managed businesses are going under because everyone over 50 grew up and lived in 'the good times' and never ever thought that hard times would come for realsies. Millennials are just now starting to buy houses and most are priced out by the millennials who got in 2019-2021 before prices went retarded high and rates fucked them out of loans. Why would they want to live like boomers did and buy a new car every few years?

This is why the whole thing is so funny with boomgolians seething "you don't DESERVE 20 bucks, you gotta EARN IT" even if it's a 'mid level' job or whatever- the economy NEEDS millennials (and zoomers) to be paid a lot when they're young and willing to spend, because that's how a consumer economy grows. But boomers want it both ends, plus the cake- they want low costs for themselves, but high profits, so they have this dipshit idea they can pay you 17 bucks for a job that should really be 25 bucks while charging 9000 dollars for a 2005 used prius that should go for no more than 4000. It doesn't make sense, unless you realize they're just stupid old spoiled brats who never had to learn to be competitive.

This also filters down to millennial 'businessmen' too, the kinds of people who sell chink shit on Amazon. I always see reasonably priced shit sell out immediately, leaving people selling for 2-3 times what it's actually worth, because people think "oh everyone is listing it for 400 bucks, so I'll do that too!" but it's only worth 170 bucks.

If you aren't moving inventory, then cut your prices.
>but I would make more money/take a loss!
If your whole business goes under and your merchandise gets repossessed you will be a lot worse off, but I guess boomers will just die in poverty when they're 89. Lol.

>>55496634
Bad news is now bullish

>>55497801
KEK

>>55497793
Advice on getting into the business ?
Sales

>>55496679
This been driving my Honda for 20 years, still going strong

Cool. let them liquidate. They'll sell at a loss and I can get my next car on a bigger discount.

>>55496911
>911
You know what to do, anon…

>>55497213
>As long as people are paying rent and paying their mortgages
HAVE I GOT A BTFO FOR YOU.

>>55496634
>used cars will finally become affordable again
God please let this happen

>>55496634
People want a small fortune for a 20 year old car with 150k on it

>>55496664
This, bag holders not willing to lower prices for inflation and for the initial price they paid

JPM, Blackrock, Citi, State Street earnings Friday

>>55496634
>packed to the brim and with massive "sales" yet nothing is moving,

You are an idiot.
People are moving on to electric cars, no one wants old ICE cars.
Sell Ford, GM, Toyota, etc... buy Tesla

>>55496634
car prices are so fucking insane right now

Dealerships here don't even have prices listed on stickers because they swing so much and there are private party cars on FB market place that are sometimes cheaper than dealership auctions like Manheim

Car shopping now blows ass, I think I'll wait for the collapse.

>>55496634
Sorry Zoomer, I know what I got.

>>55496634
The bottom fell out of the market in Feb 2022, after a historic bull run. It's been a steady decline since then with signs of improvement since Spring of this year. You niggers don't have memories longer than a week and half of you were under 18 at the time, so there's no way you could have been posting, as per the rules.

Real estate is as tightly controlled from the top as oil or coal, your "crash" is going to be 5-15% that desperately needed to go down in the short term.

>>55496634
>every single used car lot in my town is packed to the brim and with massive "sales" yet nothing is moving, just spoke to a salesman who says they are close to bankruptcy.
Not my problem, used cars are still inflated so there is more room to drop

>>55496694
Kek

>>55496679
>>55498536
Broke ass niggers

>>55496634
>people don't need 5 cars a year, if people buy 5 years' worth of cars in one year, that means there's be 5 times less future demand for cars
Independently of any recession, this would have been the natural outcome of the car-buying-spree of the last two years.

>>55496634
No FR86s/BRZs for sale new in the whole country (yes, maybe you can find 5, that will turn out to be not there if you fly out). Civic Type R going for 10-15k over MSRP. Etc.

Definitely not the end of the car market yet. It's actually over when you are getting desirable cars for a few grand under MSRP. We are nowhere near that.

>>55496704
Why do people do this? Just buy bitcoin you fucking REEEEEETAAARDS. Stop, get some help.

>>55497213
Except more and more regulations against landlords as more people feels like they can't get out of renting.
Of course we all know only the (((big players))) will be able to afford those regulations.

>>55499979
All the regulations put more onus on large owners. Before i bought a house my landlord owned less than a dozen properties and did shit in cash and realized that at some point he might catch an L for a year or two so covid didn't fuck him over.

>>55496634
Please be true. I want a used bmw m340i off of fb marketplace without having to pay msrp

>>55500068
>bmw
mashallah, how's the weather in turkey

>>55496634
>Car dealers are greedy and were happy to increase prices but now that supply is back, they want to maintain the higher per automobile profits
Tell me something new

>>55500000

>>55499868
Decent point anon, instead of bagging 5 cars I might never drive, I'd just bag the tokenized Tesla instead seeing as it would earn holders passive income.

>>55496634
Yeah in about October

>>55496634
I'm holding on to my car and Blackswan.