Record U.S. Gun Checks Show Economic Doubts: Chart of the Day

M3Bahn · 04-25-2011, 04:16 PM

Americans are telling a “less upbeat story” about the economy’s prospects as they attempt to buy guns in record numbers, according to Nicholas Colas, chief market strategist at BNY ConvergEx Group LLC.

The CHART OF THE DAY shows the average monthly number of background-check applications increased to 1.25 million in the 12-month period that ended in March, according to data compiled by the Federal Bureau of Investigation. The figure has been setting records since January.

Spending on guns, ammunition and other sporting equipment rose 9.9 percent in the 12-month period that ended in February after adjusting for inflation, according to U.S. Commerce Department data. The increase was almost four times faster than the 2.5 percent rise in all personal consumption expenditures.

In this year’s first quarter, the FBI’s National Instant Criminal Background Check System processed 4.25 million requests on prospective gun buyers. The total increased 16 percent from a year earlier. The law-enforcement agency started its current tracking system in 1998.

The FBI is likely to carry out more than 15 million checks in all of 2011, Colas wrote. The projection is at least 4 percent higher than last year’s 14.4 million, and would amount to the seventh straight annual record.

http://www.bloomberg.com/news/2011-0...f-the-day.html

infinitekidM2C · 04-25-2011, 04:20 PM

Very inter-sting...i'm part of that statistic btw.

tHegeRm · 04-25-2011, 04:27 PM

Just gearing up baby.

Kidding aside, I am also a part of those stats.

M3Bahn · 04-25-2011, 04:30 PM

Quote:

Originally Posted by infinitekid2002

Very inter-sting...i'm part of that statistic btw.

Funny, I just bought a bunch of ammo last week.

Gold, Silver and Guns n Ammo seem to be top three these days.

Tondtar · 04-25-2011, 04:31 PM

Oh, we are just getting ready for East Cost/ West Coast show down. It has nothing to do with the economy.

M3Bahn · 04-25-2011, 04:36 PM

Quote:

Originally Posted by Tondtar

Oh, we are just getting ready for East Cost/ West Coast show down. It has nothing to do with the economy.

Sorry, I never read your posts because your avatar always distracts me.

M3Bahn · 04-25-2011, 04:39 PM

Quote:

Originally Posted by tHegeRm

Just gearing up baby.

Kidding aside, I am also a part of those stats.

Actually on CNN

Inside zombie brains: Sci-fi teaches science
http://www.cnn.com/2011/HEALTH/04/25...ex.html?hpt=C2

Tondtar · 04-25-2011, 04:39 PM

Quote:

Originally Posted by M3Bahn

Sorry, I never read your posts because your avatar always distracts me.

No foul no harm, dude ...It's the same with me. I never read them before hitting "send" either

tHegeRm · 04-25-2011, 05:16 PM

Quote:

Originally Posted by M3Bahn

Funny, I just bought a bunch of ammo last week.

Gold, Silver and Guns n Ammo seem to be top three these days.

Or gold guns, even more valuable!

infinitekidM2C · 04-25-2011, 05:19 PM

Yeah that looks kinda heavy..ill stick with my glock

M3Bahn · 04-25-2011, 05:21 PM

Quote:

Originally Posted by tHegeRm

Or gold guns, even more valuable!

tHegeRm · 04-25-2011, 05:24 PM

Quote:

Originally Posted by infinitekid2002

Yeah that looks kinda heavy..ill stick with my glock

Good idea, not even a computer program can shoot one of those beasts and hit anything.

radix · 04-25-2011, 05:50 PM

SCOTUS rules that cities can't ban handguns, cities subsequently lift their bans, and gun sales go up. I for one, am shocked. I don't think it has anything to do with the economy.

infinitekidM2C · 04-25-2011, 05:56 PM

Quote:

Originally Posted by radix

SCOTUS rules that cities can't ban handguns, cities subsequently lift their bans, and gun sales go up. I for one, am shocked. I don't think it has anything to do with the economy.

What do you reckon it is? The numbers are pretty startling.

radix · 04-25-2011, 06:09 PM

Quote:

Originally Posted by infinitekid2002

What do you reckon it is? The numbers are pretty startling.

I don't know. I just don't know that many people that would spend extra money on guns because of a bad economy. SCOTUS lifted the D.C. ban in June of 2008, and several major cities followed suit and lifted their bans as a result. The Chicago ban was lifted June 2010 or thereabouts, again, with all the suburbs and probably several more cities following suit.

June 26th 2008:

http://www.cbsnews.com/stories/2008/...n4211588.shtml

June 28th 2010:

http://articles.cnn.com/2010-06-28/j...ns?_s=PM:CRIME

San Fran gun ban:

http://www.reuters.com/article/2008/...62828620080110

I guess my point is that over the last few years gun bans have been being lifted by courts all over the U.S., not the least of which was SCOTUS. I'm not surprised to see the major bump in that graph start around the time the D.C. ban was lifted.

tHegeRm · 04-25-2011, 06:11 PM

More than likely it's the Right Wing fearing the black man will take away their gun rights.

radix · 04-25-2011, 06:14 PM

Quote:

Originally Posted by tHegeRm

More than likely it's the Right Wing fearing the black man will take away their gun rights.

Maybe, but I bet it has to do more with city slickers and suburbanites that previously weren't allowed to buy firearms now exercising their right to do so.

infinitekidM2C · 04-25-2011, 06:17 PM

Quote:

Originally Posted by radix

Maybe, but I bet it has to do more with city slickers and suburbanites that previously weren't allowed to buy firearms now exercising their right to do so.

That makes sense..you don't know what you lost till its gone...temporarily.

tHegeRm · 04-25-2011, 06:17 PM

Quote:

Originally Posted by radix

Maybe, but I bet it has to do more with city slickers and suburbanites that previously weren't allowed to buy firearms now exercising their right to do so.

I started purchasing after Obama was elected and was surprised when I went to walmart and couldn't find .22 ammo! It was like that for about a year, now it's back to normal. But, during that year every time I went to the gun store it was PACKED!

TMNT · 04-25-2011, 10:24 PM

I purchased one two weeks ago to protect myself from psychopathic tea partiers who've been visiting the D.C. area like it's their job. Wait...might be the only job they have.

TK-421 · 04-25-2011, 11:04 PM

Quote:

Originally Posted by radix

Maybe, but I bet it has to do more with city slickers and suburbanites that previously weren't allowed to buy firearms now exercising their right to do so.

I agree 100%

BTM · 04-26-2011, 08:53 AM

Quote:

Originally Posted by Tondtar

It has nothing to do with the economy.

Quote:

Originally Posted by radix

I don't think it has anything to do with the economy.

These. Anyone making economic inferences based upon background checks for gun sales is a pretty shitty analyst.

04-25-2011, 04:16 PM	#1
M3Bahn Lieutenant 329 Rep 483 Posts Drives: M3 Join Date: Mar 2011 Location: ATL iTrader: (0)	Record U.S. Gun Checks Show Economic Doubts: Chart of the Day Americans are telling a “less upbeat story” about the economy’s prospects as they attempt to buy guns in record numbers, according to Nicholas Colas, chief market strategist at BNY ConvergEx Group LLC. The CHART OF THE DAY shows the average monthly number of background-check applications increased to 1.25 million in the 12-month period that ended in March, according to data compiled by the Federal Bureau of Investigation. The figure has been setting records since January. Spending on guns, ammunition and other sporting equipment rose 9.9 percent in the 12-month period that ended in February after adjusting for inflation, according to U.S. Commerce Department data. The increase was almost four times faster than the 2.5 percent rise in all personal consumption expenditures. In this year’s first quarter, the FBI’s National Instant Criminal Background Check System processed 4.25 million requests on prospective gun buyers. The total increased 16 percent from a year earlier. The law-enforcement agency started its current tracking system in 1998. The FBI is likely to carry out more than 15 million checks in all of 2011, Colas wrote. The projection is at least 4 percent higher than last year’s 14.4 million, and would amount to the seventh straight annual record. http://www.bloomberg.com/news/2011-0...f-the-day.html
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04-25-2011, 04:20 PM	#2
infinitekidM2C Major General 4298 Rep 5,737 Posts Drives: 2019 M2 Competition Join Date: Nov 2007 Location: Orange County, CA iTrader: (4) Garage List 2019 M2 COMPETITION [9.75] 2008 135i (my old car) [7.56]	Very inter-sting...i'm part of that statistic btw.
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04-25-2011, 04:31 PM	#5
Tondtar 12 yr old Juvie 1137 Rep 881 Posts Drives: His Mom Crazy Join Date: Apr 2008 Location: El Lay iTrader: (2) Garage List 2008 (RIP in 2011) ... [0.00]	Oh, we are just getting ready for East Cost/ West Coast show down. It has nothing to do with the economy.
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04-25-2011, 05:19 PM	#10
infinitekidM2C Major General 4298 Rep 5,737 Posts Drives: 2019 M2 Competition Join Date: Nov 2007 Location: Orange County, CA iTrader: (4) Garage List 2019 M2 COMPETITION [9.75] 2008 135i (my old car) [7.56]	Yeah that looks kinda heavy..ill stick with my glock
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04-25-2011, 05:50 PM	#13
radix you know he kills little girls like you 398 Rep 892 Posts Drives: - Join Date: Feb 2008 Location: - iTrader: (0)	SCOTUS rules that cities can't ban handguns, cities subsequently lift their bans, and gun sales go up. I for one, am shocked. I don't think it has anything to do with the economy.
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04-25-2011, 10:24 PM	#20
TMNT Captain 178 Rep 872 Posts Drives: 330ci ZHP Join Date: Jan 2007 Location: VA iTrader: (0)	I purchased one two weeks ago to protect myself from psychopathic tea partiers who've been visiting the D.C. area like it's their job. Wait...might be the only job they have.
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