Obama Election Sells Guns And Stocks

The two groups with the most to lose in an Obama administration have reacted in predictable ways to his election.

Many gun shops are reporting records sales, with the only point of comparison being 9/11. The buying is being driven by fears that Mr. Obama will either prohibit, inhibit or tax guns and ammo. Though Mr. Obama has been extremely vague on this issue, has flip-flopped on it, and obscured his views, many believe this may be their last chance at firearms ownership. On a personal level, I couldn't begin to count the number of people who have told me, or asked me, about buying a gun, including many people who are the farthest thing from the stereotype of a gun owner.

The election was also followed by the largest post-election sell off ever. Though the causes of the sell off can be debated, it will be interesting to see how the market responds to the economic plans and taxes presented by the new administration, especially those which will single out the investor class to bear virtually the entire cost of the government.