Here’s another post by Patrick Callahan

A financial expert, I am not. But it doesn’t take a financial expert to say that right now the economy as a whole is not what it was two years ago and it is getting worse. Our industry has recently seen the loss of several magazine titles and countless small businesses and shops. On a larger scale the big three, who are at the very least huge drivers of automotive technology, are burning through inconceivable amounts of government money and will be for some time. Toyota recently tripled its estimation of how much money the company would lose in 2009, the first loss Toyota has experienced in 71 years. All bad news, no doubt about it. However, where there are losers, there are often winners.

Looking around on the internet, there seems to be more people than ever emptying their garages and liquidating their collections and this surge in supply has caused a marked decrease in the price of almost everything on the used market. Whether you’re looking for cars or parts, a multi-million dollar Ferrari 250 TR or your next beater now is the time to keep those eyes peeled. Can’t afford to pick anything up? Yes you can.

Things get even more interesting on a larger scale. Want a dyno? I’ve seen some outrageously low-priced (for a dyno) used ones from shops that have gone under. The same goes for nearly any piece of expensive shop equipment and even entire shops. To take things even further, IF (yes, that’s a big if) one of the domestic automakers or even one of the larger suppliers were to collapse, a larger parts company or race team could theoretically gain access to technology and manufacturing capabilities well beyond anything they could afford otherwise. Human resources is another arena in which the possibilities are salivating. There’s never been more talented, hard-working and intelligent people looking for jobs. Ever.

So while the economists and politicians whine and complain, there’s a world of opportunity still out there if you look hard enough. Keep looking and stay optimistic.