Max Keiser: "Flipping AK-47s in Ponzi Nation" - Huffington Post

Nearly everyday out here along the hard gravel roads of North Jefferson County, Kansas I receive reports from well-meaning young workers on the guns 'n' ammo market frenzy.  "Going to Oklahoma City, Caddell, biggest gun show in the country.  Got anything yah want me to get for yah?" Or, "Good ammo is getting hard to find. What do you think of that?"

Now admittedly, some are Glenn Beck and Fox News hate radio junkies (it's what pumps into their ears each day at work), but not all of them.  Most are just guys feeling the ground beneath them shake and have been raised to grab three things first; a woman, a gun and some kind of apocalyptic credo - (religion, racism or the Republican Party).    

Max Keiser, who I don't agree with but enjoy, puts it all into a perspective (as funny and truthful as it is) with: 

[Excerpt]  ... So we have a buying frenzy, driven by a fear being pushed by the media. Now, what does that remind you of?  

It reminds me of the time I was staying in London for a few months in 2004 just as average house prices were nearing 7 times the average earnings. Almost every single channel was filled with shows called things like, "Location, Location, Location" or "Property Ladder." Fear was the primary tool used in these programs to push property speculation -- fear of being left off the property ladder, fear of having to work for a living, fear of not making an apparently guaranteed, riskless fortune like your property speculating neighbor, whose 'property portfolio' probably included properties in then 'booming' markets like Spain (now crashing), Bulgaria (ditto), Estonia (ditto) and Latvia (ditto).

British buyers, of course, terrified of being left off the property ladder, were lining up for 120% mortgages at Bradford and Bingley (now dead) and Northern Rock (also dead, of the state owned zombie variety).

Back to the feverish speculation in that AK-47 pyramid:  ... No, you have to go to the Huff Post to read the rest and watch the funny videos, click here.