Gun sales see record Black Friday
Buyers swamped dealers, causing the FBI center that handles background checks to crash twice.
The day after Thanksgiving saw a record number of background-check requests from gun dealers. The calls came in so fast and furious, in fact, that the FBI centers that handle the requests crashed twice that day, USA Today reports.
Though accurate gun sales numbers are hard to come by, the overwhelming activity suggests that Black Friday was one for the record books for the firearm industry.
The FBI thought it was prepared for the day, particularly after hitting its previous one-day record on Black Friday 2011. That day, the bureau's call center took 129,166 requests.
But this year, the bureau took 154,873 calls, or about a 20% increase. You can't equate that to number of guns sold, however. The buyer may have decided against a purchase at the last minute. Or the buyer might have picked up more than one gun.
What was the reason for the new sales? Observers point to three areas. First, President Obama's re-election may be spurring fears of a new crackdown on guns. Obama hasn't exactly done much in this area -- in fact he signed a law in his first term allowing loaded guns in national parks -- but he did suggest in one of the presidential debates that he was in favor of reintroducing an assault weapons ban.
Another reason is a growing interest in guns on the part of women. The National Rifle Association says that women are its fastest-growing membership group. A final reason is that hunting and other shooting sports are gaining in popularity. MSN Money's Bruce Kennedy reported Wednesday that there was a 9% increase in hunters last year compared with 2006.
More from Money Now
Those who would google for "Economic problems 2012" or some similar search will quickly learn why many more Americans are arming themselves. Europe is looking pretty weak. China's export markets are looking pretty dim. France is gaining ground to becoming Europe's latest biggest economic disaster. The U.S. is not addressing its spending addiction nor the approaching entitlement/public employees retirement freight train. It appears to more and more Americans that government is "kicking the (so called) can" right into America's balls. Americans are confronted with the thought that they may have to use guns to protect themselves from others who might use guns against them. The American economy is NOT recovering quickly enough, not especially in relation to the creation of new government debt. What happens to me if I spend far more than I can hope to repay? I will lose everything. What happens when our government spends more that it can possibly repay? We all lose everything. The value of your money is in government's hands. Does that make you feel good? If not, buy guns and lots of ammo.
My employer is a bow/gun dealer. He keeps saying that the re-election of Obama has been the best boost in gun sales in years.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
While caffeine unquestionably improves focus, it blocks the ability to let the mind wander and form original ideas.
- Western wildfires raise the question of who pays
- 'The Wolf of Wall Street' is set to prowl again
- What vintage aircraft fly on: Donations, enthusiasm
- Obamacare surprise: Young people want coverage
- Urban Outfitters pulls drug-themed gear
- Donald Trump rakes in millions selling name to world
- EA's Simpsons game triggers gun fans' ire
- George Zimmer vs. Men's Wearhouse over firing
- New $25,000 rifle is fully loaded -- and then some
[BRIEFING.COM] Equities ended on their lows with the S&P 500 down 1.4%.
The S&P entered today's session with a week-to-date gain of 1.5% as investors expected reassuring words from today's Federal Open Market Committee Statement.
Stocks traded with slim losses until this afternoon's FOMC Statement and subsequent comments from Chairman Bernanke sent equities and Treasuries to their lows while also providing a significant boost to the dollar.
Today's Statement was ... More
More Market News
Plus, after much ado, Softbank is oh-so-close to acquiring Sprint.