The 'Panic' and Us

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MagnumDweeb

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I admit I went through a 'panic' phase. Ordering huge amounts of ammo. Spending nearly all of my disposable(money earned outside of lawschool) income on ammo (sorry sweety, it's soup and salad this week for dinner). And admittedly I'm not quite done.

I was at the gym talking to a non-shooter about guns and getting some and he wants a revolver. He's in construction, father of three, big ol'house I went to once to paint a few rooms in, and we got to talking about the general 'panic' of the current day. And I admitted I got a bit spend happy. I blew through disposable savings I had socked away for over a year and half to buy enough tools to stock my first machine shop in my first house ($3,200). He kind of stood back, and I admitted I was still getting three Mosin Nagant Rifles and 1600 rounds of surplus ammo for them(dissassemble two and keep for spare parts and only really shoot one). Well I bought another 9mm(only one I have as I sold the other one over a year ago to cousin) and that's the final of my handgun purchases outside of my NRA Pistol training classes. There are of course other purchaes but I don't want to make a whole list.

I think my personality had to more to do with it than the 'Panic' itself because we aren't all standing in soup lines(knock wood) or having to fair in a society with lawlessness abound. I honestly don't think any of that will happen but better to have it and not need it than need it and not have it.

I don't think many members have lived through the depression, I'm only twenty-four(there are days I wake up and can't believe it's happened this quick). And I have had many conversations with my grandfather who lived in Florida during the depression, when ammo was almost impossible to get what you wanted in your own county and you were having to ride a horse or carriage to get to a store that had what you needed. His family was fortunate enough to have plenty of savings(a family tradition to this day) and had plenty of farmable land belonging to his family and he and his nine other siblings and parents had the skill to use it. And then there was the hunting. We can see today how there are more and more folks getting hunting permits, heck hunters donated over five thousand pounds of deer meat in one state to help the needy.

But today, there isn't much in the way of hunting here in Florida that is easy to get to. Can't bag a deer in your backyard picking through the hog slop like in my grandpa's days. Personal livestock is a grey matter(not supposed to butcher your own animals for consumption) and most folks buy at grocery stores as oppossed to Flea Markets where country folks sell 'organic'(meaning they don't use pesticides and let nature take it's course) produce for a fifth of the price.

So maybe all that knowledge and my grandpas 'depression' stories drove my buying spree. Before the Obama election I only owed two SKSs I bought off a friend to help him out in a time of need which he was supposed to buy back when he had the money(but after six months, he didn't have the money and wouldn't return my calls) and had my Yugo Mauser which is a joy to shoot. I had shot my Uncle's ARs and Aks and thought they'd be fun guns to own 'one day' but wasn't much interested in them.

So things have come to what they are, anyone watching the news and pays attention either feels helpless, worried, or incredibly ticked off. Violent crime is up and food seems to be getting more expensive somehow. We, the consumers, are being told it's our fault by millionaires and billionaires that the economy is going this way. And so I can see how some folks might have a hard time seeing light at the end of the tunnel, at least the light being close.

I'll admit I've been buying ammo because I fear it might not be there for a few years, that things aren't going to start rebounding in the beginning of the next year (weren't we told four months ago it would happen the middle of this year). I don't fear our rights being stripped, the 2nd Amen. movement has gained a lot of steam and I've not only joined the NRA but became a Pistol instructor and at every chance preach to the masses (already got 42 people on 'retainer' waiting for when my insurance gets okayed and my training materials arrive). What I fear is a matter of supply, I'm already not making money in the stock market, and while I have plenty of don't touch unless there is a fire savings and net two hundred free to spend bucks a week(mow twenty-eight yards a week, the rest goes into don't touch savings) and am doing well in law school. I just got that weight on my shoulders that keeps the light at the end of the tunnel seem not so bright.

I'd like to think I'm not the only one, am not a chicken little, that my actions were merely a typical reaction of mine to any such incident(overreact productively, prepare to plug all holes in the bucket immediately figuratively speaking, and prepare for the absolute scenario). Either way, and I keep telling myself in vain, that the buying is over that a 'k' of ammo for each caliber is enough, and I've got plenty because in reailty I've got more than enough.

But the guy at the gym was nice enough to say that when things seem bleak, and so long as I'm not being self-destructive, there are worst things than investing in tools that are liable to be far more valuable a year from now than a stack of T-bills(treasury bills, we talk a lot about investing and have time and time again given each other really good pics at one time or another i.e. Mosaic, Citibank[during a buyout by another company], Citigroup, Wachovia and the Wells Fargo pick up, etc. etc., and municipal bonds).

Even if the 'Panic' were to end tommorrow, most guns would still retain their value I believe. Those ARs that went for 699.99 three years ago that are now going for 1,200 would probably still go for a $1000 a year from now. Anyone got anything they'd like to add.
 
Well, one way to think about it is that even during the deppression, most people weren't out of work. The highest level of unemployment was what, 25%? It probably won't even get anhywhere near that.
 
Things ain't that bad.

I feel like a young man, but when I talk about 1989 and all that, most kids have never heard of it.

When I talk about layoffs and unemployment figures from 1993, they are skeptical. When I give them the figures from 1982, they think I'm some sort of urban myth propagator.

When I give them the figures from 1935, they think I'm a moon bat.

Prices for certain assets are falling, and will fall more. This is a healthy thing.

Before 1893, there was no such thing in the American popular imagination as the "haunted house." Back in the early 1890s, a lot of silly, pretentious people built huge houses with funny features. Today we might call them "McMansions." After the panic of 1893, those houses were foreclosed on and vacated. Hence, the entry of the "haunted house" on the American literary scene and popular imagination. I owned one, for awhile. Replacement cost vastly exceeded current market value, at least according to my insurer.

Anyway, these are good times. A bunch of McMansioners getting what was long coming to them does not a crisis make -- except for them.
 
I've purchased 4 firearms and a suppressor since november 5th, and I'm fairly low income. I have probably spent around $2,500 in the last 3 months.
 
It hurts to hear what ammunition and firearms used to go for, and seeing what they go for now. I mentioned seeing new WASR10 rifles for $199 in pawnshops just five years ago (and that's without haggling). One guy said he picked up a used one with no magazines for fifty bucks. I wish those deals were around now!
 
I'll let you little wippersnappers in on a little history that you had not lived that I did. That was the wonderful inflation of the Jimmy Carter era. Mortgage rates approaching 20%, and car loan rates just a bit less. Of course if you had savings you got CD rates of 15% (I had one).

I think that is what is coming next, with the help of Barney the F... and Nancy P.
 
Thanks, when I've shared my thoughts folks who are my fellow gunnies tell me that "we" don't have enough. And the two other non-gunnies I told thought I was off my rocker even with the whole "I done bad" admission of my self-hyped panic. I look at it like this now, I'll have one heck of a collection for the grandchildren to fight over.
 
All potential gun bans asside, buying guns and ammo is a good investment in a bad economy. Guns only rise in value, and they do so at about the same rate as gold. They're easier to invest in and more fun to shoot than gold, too.
 
I already have a good basic firearms collection so I've been focusing on reloading, bullet casting and overall self reliance. Something I was going to do anyway with the price of ammo through the roof, just stepped it up a notch.
 
More peep just need to taking a farking Prozac, does wonders, I should know. Also helps that me and the GF will not be producing crotch fruit, so it makes our lives easier.
 
On a funnier note, upon one of my recent purchases, my sister called me a redneck for having a collection as opposed to just one or two. I laughed and told her that no redneck could afford my collection :neener:
 
Lots of people get through life just fine without a gun. Most of them don't see the need. I can see the need in a high-crime urban area, and I can see the need in a rural area with animal predators. I don't actually see the need in a low-crime, high income suburban setting. Yes, bad things can happen, but on average, the risk of owning a gun can be similar to the risk of not owning one.

Of course, many of those suburbanites shoot as a hobby. That's different.
 
eye5600 " I don't actually see the need in a low-crime, high income suburban setting."

Google "Senator Charles Percy's daughter", "Laurie Dann" and "David Burke." Can't find a lower-crime, higher-income suburban setting than that; I lived there myself,for years.
 
The highest level of unemployment was what, 25%? It probably won't even get anhywhere near that.

unemployment figures are tallied from those who are COLLECTING unemployment benifits, not how many are actually out of work. once you exhaust your unemployment benifits, you are dropped from the count. in a depression or recession that lasts for years, there are many, many times more people out of work than the unemployment figures show. if they show unemployment @ 25%, you can at least double that!
 
Lots of people get through life just fine without a gun. Most of them don't see the need. I can see the need in a high-crime urban area, and I can see the need in a rural area with animal predators. I don't actually see the need in a low-crime, high income suburban setting. Yes, bad things can happen, but on average, the risk of owning a gun can be similar to the risk of not owning one.

Of course, many of those suburbanites shoot as a hobby. That's different.

I take issue with the whole "necessity" discussion. It's not up to anyone, but me to decide what I need. It's that kind of mentality that fuels the gun control activists. If I can afford it, nobody should be able to tell me that I can't have it or that I don't need it.
 
Lots of people get through life just fine without a gun. Most of them don't see the need. I can see the need in a high-crime urban area, and I can see the need in a rural area with animal predators. I don't actually see the need in a low-crime, high income suburban setting. Yes, bad things can happen, but on average, the risk of owning a gun can be similar to the risk of not owning one.

Of course, many of those suburbanites shoot as a hobby. That's different.
Home invasions are more likely in homes that have nicer things to steal. Nobody looks at the dump I live in and thinks "I bet that's where they keep the good stuff".
 
Lots of people get through life just fine without a gun. Most of them don't see the need. I can see the need in a high-crime urban area, and I can see the need in a rural area with animal predators. I don't actually see the need in a low-crime, high income suburban setting. Yes, bad things can happen, but on average, the risk of owning a gun can be similar to the risk of not owning one.

Not needing a gun is fine, its just that when you do need a gun for self defense, you really need one.

Kinda like the fire extinguisher we all keep in our kitchen, it's one of those things that is really good to have and never need.
 
I don't actually see the need in a low-crime, high income suburban setting.
It's not high-income, but it's been mostly low-crime. There been a lot of burgluries lately not in my suburban setting, but in one probably less than 550 yards away. It wouldn't be too unlikely for a robbery to eventually happen.

unemployment figures are tallied from those who are COLLECTING unemployment benifits, not how many are actually out of work. once you exhaust your unemployment benifits, you are dropped from the count. in a depression or recession that lasts for years, there are many, many times more people out of work than the unemployment figures show. if they show unemployment @ 25%, you can at least double that!
That's a good point, but it was just something to think about if someone is getting very nervous over this situation, that they will probably keep their job. (I'm not trying to make this crisis seem like nothing, it scares me too. How would you like to working for Ford right now?)
 
I've too have spent more than I can really justify on my meager income. My girl views me as a paranoid zealot - so be it. I am worried and if that makes me a knuckle dragging boob - so be it again. I've spent what I can on duplicate firearms and stocked up on rounds - guilty. I live 5 minutes from a city that leads the nation in murders in a healthy economy. If being worried about that makes me a nut - so be it.

As I watched the beer-hall-putsch today in Florida, it only reinforced my decision on stocking up on all things related to firearms. We aren't out of this fix yet.....
 
Liddyfan: "I've too have spent more than I can really justify on my meager income."

Hey, you're preaching abstinence in the opium den!

Seriously, you can always turn around and sell them in a cash crunch, unlike Beanie Babies or a lot of other hobbies/habits.

BTW, I'm a huge Liddy fan, too. Used to listen to his show in DC traffic, and even met him once at an "offensive driving" course in Virginia.
 
Magnum Dweeb, I remember a thread you started a few weeks ago, "I witnessed the panic firsthand" or something like that, where you opened with a list of like 6 EBR type firearms you recently acquired and then talked about witnessing some other panic type behavior in the gun shop. I was thinking that you did more than witness the panic and I am glad that you have admitted to a little panic buying. All within your rights and not necessarily a bad thing at all.

I agree with thinking of firearms as investments that will hold value. It is a good way to convince yourself that a few more guns are within your budget. I have not gone that direction 100% but it is usually the last thing I think before I make that final decision to buy.

One thing that is true when thinking of investments is to buy low and sell high. I am hoping things get lower and am moving towards the .22lr for most of my shooting needs these days because guns as an investment don't make sense if you feed them a lot. I do like to keep a certain amount of ammo on hand for each gun I have and replacing some of it is getting more expensive. Hopefully things get a little less expensive and all of us who are stocking up now will learn a lesson and stock up even more when things are a bit cooler.

Lets hope for a better buyers market in firearms and ammo so we can use the things instead of just collect them. This is a well started thread Magnum Dweeb.
 
I wouldn't buy firearms as an investment. If a ban doesn't happen, they will probably lose value if you buy them at current prices.
 
I was a boy scout, be prepared they taught us. I have stocked up on toilet paper, can you imagine what life would be like without that.
It is not wrong to be prepared in all regards. When you live where earthquakes can cut off your supply lines for weeks if not months and deliveries are restricted to when the river is not frozen you learn to prepare.
 
AKCOP: "I have stocked up on toilet paper, can you imagine what life would be like without that."

I've found the New York Times quite sufficient for that purpose. Abundantly absorbent.
 
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