Guns Sales at Record High; Ruger Goes Parabolic
A massive increase in gun sales over recent years shows the fear trade is firing on all cylinders. One stop to your local gun show and you may see long lines of people waiting for hours to buy enough ammunition for a small army.
Sturm, Ruger & Company, for example, has been so swamped with orders for new handguns that their CEO just recently announced that they may have actually broken a new all-time record by being “the first firearms manufacturer to build and ship more than one million firearms in one year."
So what's the rush?
I asked one avid gun owner his thoughts on the surge in gun sales over the past few years and he said that people are afraid: Afraid of the government, afraid that the world is getting ready to fall apart, and afraid that Obama will restrict gun ownership rights.
I don't know if the world is getting ready to fall apart or not but one look at Ruger's chart below and you can see that it's shot up ever since Obama's election.
Look no further than the massive gun-rights organization, the NRA, and you'll see that there is absolutely no doubt in their mind that the "Obama administration is planning a second-term attack on gun rights" that involves a "full-scale, all-out assault to rip the Second Amendment out of the Bill of Rights through legislation, litigation, regulation, executive orders and international treaties."
Perhaps it is this wide-held belief that is causing people to take a pre-emptive strike against the government by buying as many guns as they can get their hands on? Question is: What happens if the world does start to fall apart before November and Romney gets elected? Will the gun bubble burst? What do you think?
About Cris Sheridan
Cris Sheridan Archive
|10/27/2016||Browning World Climate Bulletin: Water Rights and Decadal Oscillators||bcast|
|10/26/2016||David Rosenberg on Economic Outlook, Escalating Political Risks||bcast|
|10/21/2016||Eric Hadik on Cycles, Gold, and Stock Market||bcast|
|10/20/2016||ECRI’s Lakshman Achuthan: US Economy Reaching a Turning Point||bcast|
|10/19/2016||Peter Boockvar: 35-Year Bull Market in Bonds Is Over; Watch Japan||bcast|
|10/14/2016||Lawrence McQuillan: Day of Reckoning for Public Pensions Underway||bcast|
|10/13/2016||Stratfor’s Adriano Bosoni on Brexit, the Fate of the EU||bcast|
|10/12/2016||Why Your Next Car Will Be Driverless||bcast|
|10/07/2016||Ronald Stoeferle: “In Gold We (Still) Trust”||bcast|
|10/06/2016||Dan Amerman: Beginning Stages of a Public Pension Crisis||bcast|