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"NCRS Certified"

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  • Paul L.
    Expired
    • November 1, 2002
    • 1414

    #31
    Re: Catch-22

    Yes, but many countries are thinking of pegging the oil price to the Euro. Then the US$, and domestic oil prices, are in real trouble.

    Comment

    • Jack H.
      Extremely Frequent Poster
      • April 1, 1990
      • 9906

      #32
      No problem there...

      Here the appropriate 'disclaimer' has been used in conjunction with the 'R' word..."I think the US is in".... So, I've got no problem(s).

      The earlier thread entry ASSERTED we were in a recession and that did give me a problem. Like Duke said, we only conclude/prove such with forensic data (have to look at the wake off the stern vs. the waves ahead of the bow) that's after the fact.

      But, for youse guys outside the US, you should be jumping for joy.... Your Corvette parts should have seen a substantial price reduction due to currency arbitrage!

      Comment

      • Eric J.
        Very Frequent User
        • March 1, 1980
        • 771

        #33
        Re: "NCRS Certified"

        Well said Roy. Great to see you and NCRS out there. I myself thought there were a few good buys. I think BJ is a fantastic venue that can only be appreciated in person. Thankfully I live only 3 miles from the big tent. Now I also have a nice maroon shirt that reads "Special Event" A rare NCRS RPO indeed pehaps it may even be a COPO. Eric Jackson #3,182

        Comment

        • Duke W.
          Beyond Control Poster
          • January 1, 1993
          • 15610

          #34
          Re: Catch-22

          Yes, but what's even more amazing is that the FOMC missed it too.

          The 50 bp rate cut by the FOMC in September marked the beginning of the dollar's free fall (after a long, but slow and orderly contraction) and a rapid runup in oil prices. Coincidence?! I don't think so. Had they known the consequences, I think they may have left policy alone. I think they completely overlooked this consequence and kowtowed to Wall Street.

          Some oil producing states are now demanding Euros, so from a practical stamdpoint oil is now priced in Euros. Five years ago you could buy a Euro for 85 cents. Now it's almost a buck and a half!

          All more cheap money will do is devalue the dollar and fuel inflation as the 2007 data indicates even though the Fed's cherished "core inflation", which excludes the "volatile food and energy sector" (Hey, who buys that stuff?!) remained "contained". It's just a matter of time until the core rate catches up.

          You don't solve an excessive debt problem by offering more cheap money. That's like offering a broke gambler more money on credit. Pretty soon you will own him.

          Right now America is "for sale". The "cheap dollar" and US liquidity problems are attracting a lot of foreign investors who are picking up US assets for about 50 cents on the dollar compared to five years ago.

          That's ultimately how anyone has to bail themselves out from too much debt to stay afloat - sell assets, even if you have to take a loss!

          The same thing happened when "Japan, Inc." was buying America (like the Pebble Beach golf course and most of downtown LA to mention a few) 20 years ago at the height of their bubble economy. The ending was bad for them, and they ended up selling most of those American assets back to America on the cheap when their bubble burst, but this time the bubble is on our side, and the outcome may not be so rosy.

          Duke

          Comment

          • Clem Z.
            Expired
            • January 1, 2006
            • 9427

            #35
            since "top flight" is a class word owned by

            the NCRS why not notify the auctions that they can not use the words "top flight,NCRS or any words used in NCRS judging to prevent any misunderstanding about the status of the cars and thus preventing any bad feeling towards the NCRS.

            Comment

            • Eric J.
              Very Frequent User
              • March 1, 1980
              • 771

              #36
              My $.02

              After watching 70% of the Corvettes go across the block at BJ I at the time was surprised at how few claimed to be Top Flight cars compared to years passed. After reading Roy's post I get it. I was unaware BJ certified all NCRS Flight claims. I think this new approach is great. It brings awareness to our organization, which hopefully attracts more members and cars and reduces the fake top flights. I think going forward we will begin to see more solid axles and midyears returning to the judging field to get their Flight Judging, which will improve the cars seen at the large auctions. THe certified cars did hold their value and fetched healthy bids. I also saw that infamous 2nd Flight Mid year cross the block and flipped out when they announced it was a Second Flight car. In my 26 years of attending BJ, I can count on one hand the number of Corvettes claiming 2nd Flight status. Not to mention everytime I walked passed the NCRS booth there were always a half a dozen people buying things. Well done NCRS.

              Comment

              • Paul L.
                Expired
                • November 1, 2002
                • 1414

                #37
                Impact of $Exchange (US/CDN)

                I bought my 1967 in PA back in 2003. The Canadian $ was about $0.63 at that time. Let us that the cost was $30,000US. The cost to me would have been $44,500CDN. If the two $s were at par (roughly) as they are today, the cost to me would obviously have been $30,000. And yes, parts are MUCH cheaper today.

                But it a two-edged sword. If I were to sell my 1967 in the USA for that hypothetical amount today, I would receive $30,000CDN. If I sold into the USA back in 2003 for $30,000US, I would have received $44,500CDN.

                Comment

                • Kenneth B.
                  Extremely Frequent Poster
                  • August 31, 1984
                  • 2084

                  #38
                  Re: "NCRS Certified"

                  It seems this has turned into a dissection of economics. We are talking Corvettes, THANK YOU. My only point is that NCRS being in bed with BJ implies that cars judged by NCRS are legit cars 1,2,3 flight be damed are real cars & only are not quite perfect if not top flight. We all know this not true but my point is that I think that NCRS being there making money off the cars did nothing to stop people from bringing phone cars. IE 67 L-89. It only made the people that were claiming NCRS judged cars change the listing if they were not judged so what.I know this is what the intent of NCRS was but I think they made it worse. Let BJ police his auction. It is buyer beware. The buyers should do there home work. I think NCRS is doing more harm than good.

                  KEN 7808
                  65 350 TI CONV 67 J56 435 CONV,67,390/AIR CONV,70 454/air CONV,
                  What A MAN WON'T SPEND TO GIVE HIS ASS A RIDE

                  Comment

                  • Steve B.
                    Extremely Frequent Poster
                    • March 1, 2002
                    • 1190

                    #39
                    Re: "NCRS Certified"

                    The old definition of matching #s many many years ago regarding engine stamps was if they matched they were original to the car. While that is certainly no longer the case the announcers kept stating that matching #s means that the engine is original to the car and that is totally wrong to mislead the less experienced buyer. If these guys are in the car hobby like they state then I am sure they have heard of the term restamp. This is only part of the problem, the other problem is NCRS or Bloomington Gold is not in business to authenticate a Corvette, nor should it be, even though the perception seems to be among the lesser experienced if the car Top Flighted then it is real.

                    Comment

                    • Eric J.
                      Very Frequent User
                      • March 1, 1980
                      • 771

                      #40
                      Re: "NCRS Certified"

                      Thanks Steve... In high school I restored/drove Mustangs (I know I know, they were cheap though), while my father had the Corvettes. We used to call a matching number car, a car with correct part numbers and date codes since the Mustang didn't have vin stamps. It was a lot easier to know what you had though since FOMOCO gave you the codes on original engine etc... (the imfamous K code) I think there are different meanings for "Mathcing Numbers" for different makes/models. Even different within the model ie the 53 to early 59 Corvettes have a different meaning to the term Matching Numbers. It is very difficult for generalists like the Speed announcers to shift back and forth. I know Steve M is a Ford guy. I have watched his Classic Resto shows on DIY network and he does a lot of Fords. Mike Joy is a bowtie/austin healy guy based on his comments. Just imagine going off the cuff for ten hours on a 100 different cars. Takes a well rounded observer. Eric #3,182

                      Comment

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