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Q: lost all the power on 1992 Ford Escort

I have a circle dirt track escort gt 5 spd. i was going in to the corner on the gas and it just acted like i shifted it into 3rd gear, it bogged down and just lost most the power. putting it on the trailer i was floored to get it on barely. its starts fine its has no exhaust. when you started it, it sounds quieter. and when you rev it up it takes longer to rev up. What have i done to my motor. Thank you
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I would start by checking the cam timing, in case something has slipped, then check the ignition timing, then check compression and cylinder leakage to determine if the engine is mechanically sound.
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