Purchases of guns and ammunition are surging across the country. Nearly four million background checks -- a key measure of sales because they are required at the purchase of a gun from a federally licensed seller -- were performed in the first three months of 2009. That is a 27% increase over the same period a year earlier, according to the Federal Bureau of Investigation.
No one knows exactly what is behind the gun-buying craze
Not a mystery, of course, if you had bothered to tune into their sister network, Fox. Here are a few enlightening clips:
Fair enough, Second Amendment rights are at stake, many believe. Right? It is, after all, one of the few Constitutional rights still standing after the Darth Cheney years. And you never know when you might need an assault rifle or a militia in these times of thousands of hard core banking criminals roaming the country.
The WSJ goes on to report:
But it's also clear that part of the gun-buying rally is driven by people like Mr. Chambers who are buying weapons the way others invest in a hot stock. The buying is pumping up prices.
So we have a buying frenzy, driven by a fear being pushed by the media. Now, what does that remind you of?
It reminds me of the time I was staying in London for a few months in 2004 just as average house prices were nearing 7 times the average earnings. Almost every single channel was
filled with shows called things like, "Location, Location, Location" or "Property Ladder." Fear was the primary tool used in these programs to push property speculation -- fear of being left off the property ladder, fear of having to work for a living, fear of not making an apparently guaranteed, riskless fortune like your property speculating neighbor, whose 'property portfolio' probably included properties in then 'booming' markets like Spain (now crashing), Bulgaria (ditto), Estonia (ditto) and Latvia (ditto).
British buyers, of course, terrified of being left off the property ladder, were lining up for 120% mortgages at Bradford and Bingley (now dead) and Northern Rock (also dead, of the state owned zombie variety).
Back to the feverish speculation in that AK-47 pyramid:
Bert Collins, an Atlanta commercial real-estate manager, recently bought two AR-15 rifles for about $1,600 each. He's keeping one in its box, untouched, with the hope of selling it at a profit should Congress re-enact the law, which expired in 2004. "It's certainly a better investment than my 401(k) has performed," Mr. Collins said.
Note how saving for retirement and speculation are now considered one and the same. Mr. Collins' 401(k) performed so badly, of course, because his pension fund manager was part of the passive pool of ponzis called pension funds that bought the CDOs collateralized by our own property bubble scheme! We were smoking our own belly button lint.
It was a ponzi inside a ponzi scheme built atop a pyramid fraud.
And now we have nothing left but to flip some AK-47s.
Or, for those with less money to 'invest' . . . bullets.
Bubba Sanders, owner of Bullseye Supply LLC, in Brandon, Miss., said he has "a number of doctor clients whose financial advisers have told them to invest in ammunition. Beats the hell out of money markets and CDs. You can double your investment in ammunition in a year."