Gun sales are booming as buyers arm themselves, partly because they fear President Obama will win re-election this fall and pass tough new gun-control laws, analysts say.Thanks, Mr. President. Just think how happy all those gun owners will be when they realize you've been defeated and they can keep their guns without fear.
“I would characterize this as a gun-buying frenzy,” Jim Barrett of CL King & Associates said yesterday after Springfield-based Smith & Wesson’s reported blowout quarterly sales.
Smith & Wesson said preliminary net sales from continuing operations rose 28 percent to $129 million during the latest quarter. The gun maker also reported a $439 million backlog of orders — a $252 million increase from a year earlier.
Weapons manufacturers across the industry are logging similar numbers.
Tuesday, May 22, 2012
Obama is still stimulating one part of the economy: