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From the lows of mid-day March 6th through the close of trading yesterday, the Dow Jones is up 23%, the NASDAQ 100 is up 24% and the Russell 2000 is up 31%.
Meanwhile first quarter results show that Sturm Ruger (RGR) stock is up 102% and Smith & Wesson (SWHC) stock is up 165%. What’s behind the gun boom?
Human Events, home to writers like Ann Coulter and Oliver North, attempts an explanation:
Where politics was rarely mentioned during a gun purchase a year ago, the store manager says at least 60% of his customers mention the Obama administration now.
At Rich Wyatt’s Gunsmoke, “We are getting ‘Prius-driving Obama people’ buying guns because they realize they picked the wrong pony…even though they never admit it.” Just like my local gun shop, Wyatt has “old ladies and young people and liberals” buying guns. He says that while there were spikes in gun buying during the Clinton administration, during the Rodney King riots, and even just before Y2K, he’s never seen anything remotely on this scale.
This calls for an investigation by Stephen Colbert.
This, however, seems plausible:
Much of the demand for ammunition is due to an NRA advertising campaign during election season which described Barack Obama’s historical positions on gun issues, including having said that he would support a 500% federal tax on guns and ammunition. And while it is true that Obama has not made many anti-gun statements recently, gun rights expert David Kopel explains clearly that Barack Obama is easily the most anti-gun President in US history.
More from Ken Silverstein:
Commentary — November 17, 2015, 6:41 pm
The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.
In Havana, the past year has been marked by a parade of bold-faced names from the north — John Kerry reopening the United States Embassy; Andrew Cuomo bringing a delegation of American business leaders; celebrities ranging from Joe Torre, traveling on behalf of Major League Baseball to oversee an exhibition game between the Tampa Bay Rays and the Cuban national team, to Jimmy Buffett, said to be considering opening one of his Margaritaville restaurants there. All this culminated with a three-day trip in March by Barack Obama, the first American president to visit Cuba since Calvin Coolidge in 1928. But to those who know the city well, perhaps nothing said as much about the transformation of political relations between the United States and Cuba that began in December 2014 as a concert in the Tribuna Antiimperialista.
Estimated portion of registered voters in Zimbabwe who are dead:
Honeybees can recognize individual human faces.
Pope Francis announced that nuns could use social media, and a priest flew a hot-air balloon around the world.
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“Matt was happy enough to sustain himself on the detritus of a world he saw as careening toward self-destruction, and equally happy to scam a government he despised. 'I’m glad everyone’s so wasteful,' he told me. 'It supports my lifestyle.'”