Global Economy Bursting?

[Randolph Kinney]

Norway Shooter's Mini-14: The "Poor Man's Assault Rifle"

http://www.huffingtonpost.com/josh-sugarmann/norway-shooters-mini-14-t_b_911155.html

The attack in Norway by Anders Behring Breivik, apparently involving a Ruger Mini-14 assault rifle, is only the most horrific of the mass shootings involving the company's products.

Sales are up!

 

[Terrel L. Shields]

from Wiki

To own a gun in Norway, one must document a use for the gun. By far, the most common grounds for civilian ownership are hunting and sports shooting, in that order. Other needs can include special guard duties or self defence, but the first is rare unless the person shows identification confirming that he or she is a trained guard or member of a law-enforcement agency and the second is practically never accepted as a reason for gun ownership.

So....how did a city boy get a gun? Gun laws really work don't they?

 

[Couch Potato]

An excellent value in a rifle.

Norway Shooter's Mini-14: The "Poor Man's Assault Rifle"

http://www.huffingtonpost.com/josh-sugarmann/norway-shooters-mini-14-t_b_911155.html

The attack in Norway by Anders Behring Breivik, apparently involving a Ruger Mini-14 assault rifle, is only the most horrific of the mass shootings involving the company's products.

Sales are up!

Are you sure it was that Mini-14? Seems a likely choice but there are 15 different models of the Mini-14 available with capacities ranging from 5 to 30 rounds of the 5.56 NATO / .223 Remington ammunition. In addition to the above photo, the two below are also "Mini-14 Tactical" rifles. They all sell at very affordable prices of $600 to $700 range.

I think the 5-round "Mini-14 Ranch" rifle is the nicest of the bunch. It is extremely versatile for a variety of hunting needs.

Given he was roaming unchallenged on the shooting spree for an hour and a half he could have done about the same damage with a simple single-round shotgun and a bag of shells. With a nut-job like that in an isolated location the exact weapon used is of little consequence.

 

[Randolph Kinney]

Heading for a 'Haircut'

http://online.wsj.com/article/SB10001424053111903635604576472600045259640.html


Rates are rising for repurchase agreements, or repos--a roughly $4 trillion market that greases the wheels of the U.S. financial system--as officials in Washington feud over how to bring down the nation's debt. And Wall Street is now calculating the damage that could ensue if the nation was forced to default on its debt early next month or, more likely, loses its triple-A credit rating.

If the U.S. is downgraded to double-A, analysts say, some money-market funds, companies and other lenders may start requiring $103 in Treasurys for every $100 in cash they provide in repo transactions. Even if the change in collateral requirements were small, the collective result would be akin to a widespread margin call across banks and other institutions and reduce the cash circulating in the markets and financial system.

 

[Couch Potato]

US debt ought to already be downgraded to AA. The logic keeping it at AAA is the same thinking that labeled pools of subprime mortgages as investment grade bonds.

 

[Terrel L. Shields]

US debt ought to already be downgraded to AA. The logic keeping it at AAA is the same thinking that labeled pools of subprime mortgages as investment grade bonds.

The problem is that compared to the coming debacle in Europe as the EU and Euro unwinds is that the buck looks good in comparison. Like trying to decide if the person on dialysis is healthier than the one on life support.

 

[Couch Potato]

You are so right. On a relative scale we are doing fine.

 

[Lloyd Bonafide]

It helps that the U.S. can create trillions of dollars out of thin air.

I'll bet Greece, Ireland, Spain, Portugal, et al wish they could do a magic trick like that. :ninja:

 

[Austin]

Someone help me out here. Am I missing something? I read this stuff every day and it is such a logical contradiction it makes me questions my own understanding. Below is something I read every day and how I interpret it. Tell me if I am wrong. Paraphrased: This stuff is written generally by statists who desire a compromise and are trying to support their position.
“If the congress does not reach a compromise the government will default on the debt and our credit rating with be lowered which will be devastating.” Then a few lines down there is this: “If we don’t get spending under control soon our entire system will collapse under the weight of the debt and we will lose our credit rating.” What they are saying I reason is that we must do something but not now, later.
Ok, here is where I question my sanity: 1. would it not me more rational for our credit rating to be lowered if we reached a compromise knowing that default was inevitable in just a few years and to stop borrowing now would make us more credit worthy? 2. If you reason we are going over a cliff under our present trend then why would anyone want to prolong the agony? This in my mind is an insane contradiction.
Here is how I explain it. There are some people, most people most likely, who are incapable of dealing with the reality of life as it relates to the future. This is the same day-late and dollar-short crowd who dominates our economy and is the source of our problems. Upside down on their mortgage, huge credit card balance and believing they can borrow their way out of debt or tax the rich to pay for it. In their mind a pending disaster is a non reality. It just can’t happen. Tomorrow will never come. Something will happen to save the day.
In the last few years I started an orchard and vineyard. It takes over 4 years to get good production. I can’t tell you how many people asked me why I was planting those plants because they would product nothing for 4 years. My answer was that 4 years is only 4 years way and in 4 years I will be self sufficient. But that is four years away they say. It will come I say. I may post some pictures of my vineyard and the grapes hanging in clusters. I got the first peach last night and it was the best I ever tasted. Beautiful pears and apples after 2 and 3 years. The reality of the future event is the gulf that divides us. There are those, the majority, who cannot comprehend it. I could really enjoy some of those grapes Austin they are saying….The irrational majority in a democracy is a deadly combination. My farm is no democracy. Sorry no grapes for you!!!! They are going into my wine cellar. My no taxed wine cellar.

 

[Randolph Kinney]

2nd Qtr GDP 1.3%, 1st Qtr GDP revised to 0.4%

http://www.bloomberg.com/news/2011-...less-than-forecast-after-almost-stalling.html

Slower job and income gains raise the risk that a pickup in purchases during the remainder of 2011 will fail to materialize.

The 2007-2009 recession took a bigger bite out of the world’s largest economy than previously estimated and the recovery lost momentum throughout 2010, the report showed.

A slump in government spending added to the economy’s woes last quarter. Outlays by state and local agencies dropped at a 3.4 percent annual pace, and non-military spending by the federal government slumped 7.3 percent, the most since 2006.