The last time we had a slowdown, we didn't have much of an interest rise. Imo, the market has separated the two to the point of amputation. Social media has a greater likelihood to affect the economy.

 

Interest rates will edge up, that wont cause any problems

People want to live beyond theur means, thats what caused the 07/08 crash ffs. Still a few could profit so wgaf eh?

 

Classic cars are currently fashionable. That's what's behind the rise in popularity and the involvement of so many dealers in old tat. All fashions change. Only a very few years ago people collected antiques. You can't give away a lot of antiques nowadays. A rise in interest rates might prompt a crash but I think it's always hard to predict the trigger. I suspect it will be more gradual, such as an increasing number of new entrants realising that old cars need to be used or they become unusable and that when things fail parts may be unavailable or crazy expensive. If the value isn't rocketing that shiny toy becomes an expensive irritation. If enough people feel like that (the high number of crooked dealers and bent, bodged cars won't help) the gloss will come off the hobby, people will move to something else, more cars will come on to the market and the price correction will start. Any easier return on your money will lubricate that movement.

Back to my E36, I have a growing list of parts to swap. It's a shame I can't swap the other way round but the second car is higher mileage and the bodywork isn't in such good condition. I have an irritating water (as in rainwater) leak in the main car but I'm hoping some seal swaps will fix that. Nice to be able to swap one thing at a time to get to the root cause. Seat should be back from the trimmers next week so I will use the time to get the old interior out - a lot easier with the roof down and before the hardtop goes on.

 

It was partially a natural credit cycle being fully-expanded, but largely that was driven by reckless asset-derivative gambling by a bunch of banksters using money magiced into existence. The repeal of the Glass-Steagel Act has a LOT to answer for...

That the credit cycle was never allowed to resolve itself naturally means interest rates may need to be kept low for the foreseeable, despite them talking a good fight to re-assure the markets. Unless asset inflation continues, many of the non-rich are still really underwater.

During times of deflation (what deflation..?), hard assets become a safe haven; now the DJIA has demonstrated itself to be in a secular bull market, the money will switch out of classic cars and 1960s furniture and back into stock market gambling.

 

Big day today. I discovered a leak in the car (rear footwell driver's side) which I THINK I have traced to blocked drain holes under the rear tonneau.

Meant stripping out the carpet on the driver's side, which wasn't too bad as the seats were coming out to fit the sport replacements anyway. However, the carpet is bonded to a moulded foam underlay/soundproofing and it holds and retains water like you wouldn't believe. It has taken me a week to dry it out - combo of dehumidifier and fan heater - so today I need to be certain the leak is fixed before I put the interior in. I use ribena in a watering can to trace leaks. Tedious, one area at a time with the watering can and lots of white kitchen towel inside to look for the tell tale signs of ingress. Trimmer has done a great job with the driver's seat repair and a vigourous clean and good feed has brought the new seats up nicely. They are much, much nicer than the standard seats.

Once the interior is back in I can fit the hardtop and start using the car again. Not much else to do apart from swap a couple of cosmetic bits and pieces, a couple of scratches to fill and do the rear discs (next to nothing from ECP). I've driven a few other examples of this model recently and mine drives so much better than those cars. Whether it's the lower mileage or just a good one I don't know, but it's a cracking engine and I'm still scratching my head at the fuel economy. Pics to follow once the seats are in.

 

So no leaks and now a car with bonus, fragrant "Ribena Reservoirs" ...

 

I won't know about the leaks being fixed until after the 'Ribena test' but the nightmare scenario is getting the interior back in and it filling up again. Just so time consuming and irritating to dry out. Oh for old cars with rubber mats and not much else. You could drill a couple of holes in the floor pans and job done.

 

My old Merc's A and C pillars were known to leak - I had "casual water"in the rear footwells - and the owners' club website had instructions on how to rod the offending drainage holes. I never got round to trying it, instead just taking out and drying the carpet and unbelievably thick insulation foam. Took weeks in my garage.

Had I done any kind of leak test in mine, I had visions of litres of test fluid trapped and not going anywhere ...

 

Well, that was interesting. Swapped the hardtop and was keen to have a look at the soft top on the donor car as I bought it in the knowledge it wasn't working. Turns out it's a brand new roof under there. Power to motor and switch but no movement of roof...as yet.

 

Drowned control box?

Or is that just Audi shite...