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Thread: Demand for Guns, Food Stamps Indicates Uncertainty: Analyst

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    GuncoHolic Black Blade's Avatar
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    Default Demand for Guns, Food Stamps Indicates Uncertainty: Analyst

    Demand for Guns, Food Stamps Indicates Uncertainty: Analyst



    Published: Monday, 18 Oct 2010 | 11:57 AM ET
    By: Michelle Lodge
    Special to CNBC.com

    The rise in gun sales and food stamp demand are indicators of a fearful public struggling financially, Nicholas Colas, chief market strategist, ConvergEx Group, told CNBC Monday.

    “Oddly enough, buying a gun still holds very steady, but buying ammunition not so much,” said Colas, who analyzes trends in the economy and financial markets.

    In addition to firearms and food stamps, ConvergEX reviewed sales of gold and silver coins and used cars.

    “That tells us that there are more first-time [gun] buyers coming in to buy firearms and that speaks to your worries about security. They buy a few rounds [of ammunition] first time, but they don’t buy more.”

    Colas said to determine firearm activity, he tracked FBI background checks and Google Trends for buying guns and ammunition. Likewise, Google indicated a high last month on those seeking information on how to get food stamps, he added.

    Sales of gold coins have levled off at 100,000 units a month over the last half year, said Colas, but interest in silver, much more affordable, is rising. “Just two years ago, silver coin sales were on the magnitude of 1 million units a month, now it’s 3 million units a month,” he added.

    Colas said that after a large bump in used-car prices earlier this year, prices are now unchanged.

    “The consumer is still on pretty shaky ground,” he added. “Confidence [is] still not all that strong, the intention to spend, still [is] not all that strong.”

    News Headlines

    Black Blade: Guns (check), Ammo (check), Silver (check), Gold (check) and Food (check).

    Shifting to Tangibles in an Age of Inflation - Investing and Finance - It's The End Of The World As We Know It - New World Order - Natural Resources Investing - Message Board
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    Gunco Addicted for life j427x's Avatar
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    i think people are looking for relative bargains.

    i have bought more firearms this year than past years, for certain.

    not because i am stocking up for armageddon. hell i have plenty of firearms and ammo and have had them for decades.

    but because several high-priced pistols that had inflated "O-bama in 08" prices have finally come down . the AR-15 market is in a near glut and there are some good deals that wern't there two years ago with ar-15 stuff as well as other rifles and pistols and shotguns.

    just bought a NIB taurus OSS 45 for $355. the MSRP on this model is $642 they have been selling from $540 to about $448 in most places. 25% to 55% off is just hard to pass up.

    savage came out with a very competitive priced bolt action hunting rifle--damn i had to get one of them.

    one one of my notorious "low ball bids" on a gun auction came in this year. never one one like that before.

    and a few months back a bought several AR-15 lowers. why ? because they are top quality and were selling for blowout prices so i bought a few extra.


    i don't think were going to see firearms this cheap again for a while. some of these producers are losing money. they will scale back production,and or the government will likely enforce some new laws/regulations that will effect builders or retailers, and inflation which never stops will start pushing prices back up.

    so there is a lot of thinking like "well i better buy that AR,AK,pistol shotgun ,rifle ect ect--before they go up going on around these parts.

    any you got buzzards like me "swooping in to scoop up bargains".

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    Gunco Maniac sjohnson's Avatar
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    Well, APEX has dropped the price of their Bulgarian AK74 w/US barrel parts kit to $210, so I just finished making that deal. And, keeping the purchases with sponsors, bought the last two painted/sanitized Bulgy AK74 mags, a Bulgy mag pouch and 5 of the used Hungarian leather slings from Copes. That's as big a splurge as I've done in over a year, not a lot of spare change right now. I wanted at least 4 mags, but two was all their order system said they had. Have to hunt for more!

    I finally will have an AK74 to go with the dies and bullet swage I got in the B2B group buy
    I have a daughter. I tell her, "911 is what you dial after you're raped. 1911 is what you should have before they try."

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    GuncoHolic Rahatlakhoom's Avatar
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    More bang for the buck is what I'm hearing from the article.
    More hope and change in owning a firearm than all that whip-cream
    pouring out of the political bilge pumps.
    Charter member-Busted Box Club est. 2006

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    THE 9mm ADDICT MUSIBIKE's Avatar
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    It sure was so easy dropping a half case of 9mm ammo at the range over the past two weekends. Just two pistols ate all of that. In a time where there may be some rough activity, a lot more would get used up in several carbines and the pistols.

    Even though it hits the credit card to do it, order up some extra for the times which are just around the corner. The start of the first END TIMES WAR is only a trigger pull and or, button push away. Once it starts a case of ammo won't be able to be had via Online order like it is right now.
    M U S I B I K E

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    Happy Camper hcpookie's Avatar
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    Quote Originally Posted by j427x View Post
    i think people are looking for relative bargains.

    i have bought more firearms this year than past years, for certain.

    not because i am stocking up for armageddon. hell i have plenty of firearms and ammo and have had them for decades.

    but because several high-priced pistols that had inflated "O-bama in 08" prices have finally come down . the AR-15 market is in a near glut and there are some good deals that wern't there two years ago with ar-15 stuff as well as other rifles and pistols and shotguns.

    just bought a NIB taurus OSS 45 for $355. the MSRP on this model is $642 they have been selling from $540 to about $448 in most places. 25% to 55% off is just hard to pass up.

    savage came out with a very competitive priced bolt action hunting rifle--damn i had to get one of them.

    one one of my notorious "low ball bids" on a gun auction came in this year. never one one like that before.

    and a few months back a bought several AR-15 lowers. why ? because they are top quality and were selling for blowout prices so i bought a few extra.


    i don't think were going to see firearms this cheap again for a while. some of these producers are losing money. they will scale back production,and or the government will likely enforce some new laws/regulations that will effect builders or retailers, and inflation which never stops will start pushing prices back up.

    so there is a lot of thinking like "well i better buy that AR,AK,pistol shotgun ,rifle ect ect--before they go up going on around these parts.

    any you got buzzards like me "swooping in to scoop up bargains".
    Yeah I agree. The chicken littles aren't buying any more so the market is adjusting to the supply. It is a really good time to buy stuff right now but like the article said people aren't 'intending to buy' so it is looking like it is going to stay a buyer's market for a while longer. Perhaps when the housing market begins to recover the prices will go back up!
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    Gunco Veteran nkluksda's Avatar
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    Quote Originally Posted by hcpookie View Post
    Yeah I agree. The chicken littles aren't buying any more so the market is adjusting to the supply. It is a really good time to buy stuff right now but like the article said people aren't 'intending to buy' so it is looking like it is going to stay a buyer's market for a while longer. Perhaps when the housing market begins to recover the prices will go back up!
    You're assuming that the housing market is going to recover. With the push to stall foreclosures for all the folks who bought without the ability to pay, there's a building backlog of supply; when the foreclosures start, it's going to be a housing glut, and in a lot of markets, values are going to take a second 'correction'. Plus the impending tax increases to ALL brackets and the Fed printing more money and doing more quantitative easing - we're set for a perfect economic storm.
    Q - What is Bambi?

    A - Viable Target

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    Gunco Member Leadchunker's Avatar
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    The storm has begun. The time to prepare is now. It will get much worse before it gets better. Buy food for the long term to weather the storm.

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    Ammo and guns will come in handy as well.

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    I've already hit bottom,I think.The government took/cause me to lose everything I had.
    When does the party start?
    SOON-We already lost the war. You are the resistance.

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