RE: Inflation20 Jun 2021 17:26
I'm sure most people have read this, but I'll put the link in here just in case. It's about the Fed's apparent change of heart!
https://moneyweek.com/economy/us-economy/603423/the-fed-springs-a-surprise-on-investors-are-there-more-to-come
Well, Western governments need to inflate away their debts, so I agree with the author about how far the 'taper tantrum' must run before they change track again.
My eldest sister's husband was a panel beater all his working life, and has helped me buying cars over the years. When I was a student, I saw a Triumph TR7 at a local garage and he came along to view it. The verdict was: 'as rotten as an old pear'. It was a blue one with the roof, not convertible, and I could see all the wheel arches had filler in and underneath was rotten. It was 1986 and the car was probably about 8 years old - I think the insurance for me was about £850.
I eventually bought an Austin Metro when I started work. It was about 18 months old, purchased from a main dealer, and after a week, I went to go to work one morning and there was about 3 inches of water in the passengers footwell. I took it back. They kept it for about 2 weeks, told me it was fixed, and about 2 days later, the footwell was full of water again. My to-ing and fro-ing to the garage happened a couple more times with no success. After a comment from the sales manager to me, which even in those days was extraordinary, I threw the keys at him and said I didn't want the car anymore.
My brother-in-law said that finding water leaks in cars is such a difficult, time consuming process, that they just didn't want to make the effort. So, one cold Sunday morning in January, we were out on my parent's house driveway with the car. He was upside down inside the car and I had a hosepipe which I had to allow the water to trickle from starting at the lowest point on the door/wing. It took ages to find, and the leak point was found to be on the roof edge, hidden by some black trim. The factory sealer had not covered properly and the water just poured in. We put some black sealer on, replaced the trim, and it was fine after that.
I never really liked the car, though, and kept it about 2 years before selling it. I really should have bought either a Mini or an Escort - much more a young person's car in those days. I know a little about car repairing from my brother-in-law. One thing he did say was that finding a really good painter was so difficult. The cars would be repaired really well, only to be almost entirely ruined by painters throwing on a load of paint which looked terrible.
To buy a classic today, I think joining the owners' club is the best thing to do. So much knowledge and willing helpers. I did join the Jensen Owners' Club for a year when in my early 30s. I liked the Jensen Healey but found that they weren't particulary good cars. I also had a young family then, so it was completely out of the question anyway. I was just learning the ropes for later in life.
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