Although many stocks traded on the New York Stock Exchange suffered a significant drop in their value on the day after Barack Hussein Obama was reelected president of the United States, there was one industry that experienced a significant boost: small arms manufacturers. With the president threatening to further interfere with the rights of American citizens to keep and bear arms, those citizens are acting quickly to procure as many firearms as they can, and the companies that manufacture those firearms will have a hard time keeping up with demand.
As reported previously for The New American, the reelection of President Obama and the threat of continuing gridlock on Capitol Hill was received as bad news on Wall Street, with the Dow Jones average dropping 313 points in one day. As Raven Clabough wrote:
According to USA Today, the election results contributed to the drops at least a little: “Investor reaction is decidedly negative over the defeat of the more business-friendly Mitt Romney.”
Likewise, fears were exacerbated on Wednesday when European Central Bank President Mario Draghi indicated that he was concerned about the outlook of Europe’s economies, particularly Germany’s.
However, the failure of Congress to reach a conclusion on how to avert the impending fiscal crisis by the end of the year is believed to be the most significant contributing factor to the 313-point drop. Many are concerned that Congress will be unable to reach a compromise during a lame-duck session.
"The chances of going off the cliff probably just increased," says Ed Yardeni, chief investment strategist at Yardeni Research.
However, weapons manufacturers are an industry that continues to run counter to the larger trend of ongoing economic decline. An article for Bloomberg noted that Smith & Wesson and Sturm Ruger & Co. were among the companies benefiting from Obama’s reelection:
Click here to read the entire article.