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Today's Hot Investment: Guns

or: Fearing New Laws, Buyers Stock Up on Guns

By Matt Cantor,  Newser Staff

Posted Apr 16, 2009 7:55 AM CDT
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(Newser) – Guns sales are booming as buyers, fearing an Obama administration crackdown on the sale of assault weapons, are looking to safeguard their homes—and their retirement, reports the Wall Street Journal. Some gun enthusiasts see semiautomatic weapons as a smart investment that’s sure to gain value if new restrictions are put in place, and prices are already climbing: The average cost of a European-made AK-47s has doubled since the fall.

Investing in ammo “beats the hell out of money markets and CDs,” says a supplier. “You can double your investment in ammunition in a year.” During the 1994-2004 assault-weapons ban, values of popular guns skyrocketed. But there’s little to suggest another ban is on its way: The administration says it’s not planning an “imminent” move, the Journal notes, and Congressional leaders remain cool to the idea.

Customers line up to look at firearms at a gun shop in Fort Worth, Texas, Thursday, Nov. 6, 2008.
Customers line up to look at firearms at a gun shop in Fort Worth, Texas, Thursday, Nov. 6, 2008.   (AP Photo/LM Otero)
A man hands a gun to a customer at a Texas gun shop.
A man hands a gun to a customer at a Texas gun shop.   (AP Photo/LM Otero)
A customer examines a firearm at a gun shop in Fort Worth, Texas, Thursday, Nov. 6, 2008.
A customer examines a firearm at a gun shop in Fort Worth, Texas, Thursday, Nov. 6, 2008.   (AP Photo/LM Otero)
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COMMENTS
Showing 3 of 11 comments
AClotfelter
Apr 16, 2009 8:21 AM CDT
I can't agree with you here... Obama's own word on the campaign trail sparked this... even if he never follows through at this point, you can't deny that he said that he wanted to introduce some gun bans... that's all it took. Whether you think guns bans are a good thing or not, we should all be able to agree on the point of fact that he has supported them.
AClotfelter
Apr 16, 2009 6:25 AM CDT
Thise who may be intererested can read the continuing saga here: http://www.newser.com/story/56...
Mad
Apr 16, 2009 6:21 AM CDT
You're very kind, thank you

Obama election fuels more gun buys
Canada.com

US

 
Congress • gun control • investment • ammunition • assault weapons • Obama administration • guns

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