Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench

Another Industry Growing Like Gangbusters

IMG Auteur
Published : May 04th, 2012
297 words - Reading time : 0 - 1 minutes
( 4 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Crisis Watch

 

 

 

 

In "Business is Booming," I noted that one area of the economy, the firearms industry, is growing like gangbusters. As it happens, another sector that does well when times are bad and people are worried is also seeing brisk demand for its products.


"More Americans Stashing Cash in Home Safes" (MarketWatch)


In an era marked by financial turbulence, it’s probably not surprising that safes have become a popular commodity, with some manufacturers, retailers and installers reporting sales increases of as much as 40% from a few years ago.


...


One thing that isn’t driving the safe boom, apparently, is crime. Indeed, U.S. burglary rates have been plunging for years. Still, experts say that many savers and investors feel a lingering sense of insecurity in their finances—a hard-to-shake fear borne out of the jolting recession and, at times, wobbly recovery—which is helping to spur the new safeguarding mentality.


Tyler D. Nunnally, founder and CEO of Upside Risk, an Atlanta firm that researches investor psychology, says sticking tangible assets in a safe can be a natural reaction to volatility in the markets. “People dislike loss twice as much as they like gains,” he says. “They want to protect what they have.”


Growing numbers of these fearful types simply don’t trust their banks to protect them: In a Gallup poll last year, a record-high 36% of Americans said they had “very little” or “no” confidence in U.S. banks. (In 2008 and 2009, when the financial crisis was peaking, that figure stood at 22% and 29%, respectively.)


But, but...I thought Treasury Secretary Tim Geithner said the U.S. financial system is "significantly stronger than it was before the crisis"? Shouldn't these people be listening to clowns "experts" like Former Federal Reserve Chairman Alan Greenspan and buy "cheap" stocks instead?


Michael J. Panzner 


 


<< Previous article
Rate : Average :5 (4 votes)
>> Next article
Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
WebsiteSubscribe to his services
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Man Grabbed, Crushed to Death By...
00:00user4779
The "lump of labour" fallacy raises its tired old head yet again, mixed in with B-movie-style sci-fi speculation about a terrible robotic future wo...
Max Keiser Interviews GoldCore’s...
03 Julovertheedge
"The IMF said that Greece requires additional bailout funds of around 50 billion euros until 2018 under the current bailout conditions, and slashed...
Greece’s referendum
03 Julend
"History may judge him instead to have played a poor hand very well indeed." I'm quite sure both Macleod and Varoufakis will be quite disa...
Gold Daily and Silver Weekly Cha...
02 Julglasstiger
Jesse, you use the term "could care less" frequently. Is this American speak for "couldn't care less"? Similar I suppose to the ubiquitou...
One more book, Mr. Stockman
02 Juluser4779-1
While it is true that "[Gold standards] were abused, suspended, and ultimately abandoned in favor of a currency that central banks could inflate at...
Panicked Hedge Funds Now Praying...
30 Junovertheedge1
"... and the silly game theory ..." Obviously you have no knowledge of game theory and its applications. Otherwise you wouldn't have used ...
The Gold Standard: Generator & P...
30 Junuser4779
Is it really so bad for Americans that they do not spend their lives labouring on a production line to make mass-produced goods, and have left this...
The Gold Standard: Generator & P...
30 Junsam_site
You state, “To continue selling to the West, China will have to open wide its doors to imports” Here’s the crux of your argument of why Chin...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Junex(Ngas)JNX.V
Junex Closes a Portion of its Private Placement for Proceeds of $5 Million
CA$ 0.79-1.25%Trend Power :
Corporate news
Fortune Minerals(Ag-Au-Co)FT.TO
Receives Notice of Default Under Prepay Facility and Reaches Agreement in Principle to Settle
CA$ 0.05+11.11%Trend Power :
Corporate news
Potash Corp.POT.TO
K+S says no basis for talks suggested by Potash Corp
CA$ 39.09+0.54%Trend Power :
Corporate news
EMED(Au-Cu)EMED.L
Director Share Purchase
GBX 4.63-2.53%Trend Power :
Corporate news
Golden West Res.(Fe)GWR.AX
Change in Substantial Shareholding - WPI
AU$ 0.05+0.00%Trend Power :
Corporate news
Potash Corp.POT.TO
Potash says confident can address K+S' concerns about takeover offer
CA$ 39.09+0.54%Trend Power :
Corporate news
Potash Corp.POT.TO
PotashCorp Confident K+S Concerns Can Be Addressed Through Collaborative Discussion
CA$ 39.09+0.54%Trend Power :
Corporate news
Tawana Resources(Gems)TAW.AX
Changes to Tawana’s Board of Directors | 71.72 KB
AU$ 0.00+0.00%Trend Power :
Corporate news
Teras Resources(Au)TRA.V
Teras Receives Results From Core Drill Program
CA$ 0.08-6.25%Trend Power :
Corporate news
Goldrush Res.(Au)GOD.V
Goldrush Announces Receipt of US$500,000 Payment and Appointment of New Chief Financial Officer
CA$ 0.02+33.33%Trend Power :
Corporate news
Comments closed