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Negative ghostrider, that's typical early 90's Ford clear coat delaminating.Looks like its a REPAIR thats flaking, as the surface underneith shows no signs of discoloration, but DOES show signs of scotch bright activity.
car was prob repainted at some point, and this is a result of insufficient scuffing + time
Might be able to have JUST these sections repainted and blended @ the mirror, but that depends on what (if any) other work you would want to do in the process.