Wednesday, March 28, 2018

Remington firearms files for BK. Is gun ownership dying? [RGR]

BBC News reports on the BK of Remington which was like the Bear Stearns of US firearms companies in two ways:
1) it was the oldest in its class
2) it filed for BK

Gun haters are probably throwing parties but I am in agreement with BBC which concludes that this is not the death of guns, just the death of a poorly managed company.  Of course then you read that Cerberus Capital was involved along with a string of dodgy debt based acquisitions and it begins to smell like just another corporate scam where the leaders of Remington sold out the employees.  Of course I have no proof of this and I'm not accusing them of it.  I'm just saying that other proven scams have used the same model as this.  Load the big name player up with debt used to overpay for shit "assets" and then eventually default on the loans used to make the sham acquisitions.

Well, if if Remington's demise has little to do with the current crop of ignorant fools who know nothing about history and what ALWAYS eventually happens to disarmed people, then what's next??  What does the wave count say?

Below is the chart for Sturm Ruger, maker of the best mass produced .22LR ever.  I bought my first one when I was 16 years old back in 1976.  The barrel is nicely stamped with "Made in the 200th yea of American liberty".  I've easily shot 60k rounds through it during my life.  I think it has jammed maybe 3-4 times in all that time and always when it was in need of a good cleaning.  I can drive tacks at 50 yards with that thing (but I need a scope these days instead of the iron sights that I used for so many years of small game hunting and tons of plinking).

The shares just put in what counts as a 4th wave of an expanding wedge.  As long as this can hold $48.25 I think this sees $115 within 1-2 years.  The first confirmation that this is unfolding would be the break out of the upper rail of the falling wedge that makes up what is likely red 4.  Maybe this means there will be increased pressure on gun rights and so everyone panics and buys a gun.  Whatever happens, I am not worried about the gun grabbers.  They will nibble about the edges but in the end they will not get their way.  You know why?  Because gun ownership is part of the American experience and if anyone tries for any reason to eliminate it they will be dealt with using the same force which they think they can use in order to confiscate weapons.  It's just a huge waste of time to even worry about when those who think they are going to confiscate my guns have none of their own with which to force me to accept their mandate.  Anyone who comes to my house with guns in order to take my guns will not make it home that night.  This is not radical thinking, simply the advice and council of our founding fathers who were branded as traitors with a price on their heads by the corrupt tyrannical authorities trying to force them to accept overlord rule.

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