Why A Gun Conspiracy Is Helping The US Economy

May 1, 2013 in Daily Bulletin


There is currently a conspiracy theory that the Obama administration is attempting to buy up the USA’s ammunition supplies. Which is exactly what we want, writes Matthew Yglesias:

  • Oklahoma Sen. Jim Inhofe and Rep. Frank Lucas have introduced a bill that would prohibit every government agency — except the military — from buying more ammunition each month than the monthly average it purchased from 2001 to 2009. This is to stop Obama creating an ammunition shortage.
  • The theory goes that after Obama failed to push through his gun control legislation, he is seeking alternative means to restrict gun ownership; by buying up all the ammo.
  • This has lead in some sectors to panic buying of ammunition, and ‘buying my kids ammo instead of savings bonds’
  • Which is, Matthew writes, exactly what the USA needs right now. The USA needs stimulus in domestic markets, which means buying is better than saving.
  • And if people insist on buying bonds and not ammunition? Then increase the supply of bonds, and use the money raised to buy ammo anyway, helping the economy.

So do we find ourselves in the position of wanting to perpetuate a myth in order to stimulate the economy? Read more from Matthew over here, or for more background and context check out Salon or The Guardian

Source: Slate and Salon

See also: The Guardian