Is your city rioting?

[Fishindude77]

I was able to find 1,000 rounds of .223 the other day, so there is some still available, but it's currently a bit pricey and not easy to find.
Firearms are not difficult to find here in the midwest, but the ammo for the popular stuff like .223 and 9mm is getting scarce. You can pick up a box or two most places, but bulk buys are tough to find.

[james.hendrickson]

How much do you have collected? Depending on the quantity, selling now is a great time. I'm down to about 1100 rounds of .223. I'm actually thinking of getting a progressive press reloader for mainly 9mm. If it goes well, I'd get new dies for different calibers. In the meantime my BIL has one and offered to let me use it.

cypher1, I counted it a couple of months ago. I've got about 680 rounds of 5.56/.223. I also have a Ruger 556 which would make a lot of sense to sell right now as well. I bought it for $600 (ish), but I've been seeing low end AR's selling for $1,000. I don't use the 5.56/.223 platform for hunting much at all, so its basically been gathering dust in my safe.

[cypher1]

@QMM and @bs The smart thing to do would be to sell the existing 5.56 that I have - I might be able to get double what I paid for it.

How much do you have collected? Depending on the quantity, selling now is a great time. I'm down to about 1100 rounds of .223. I'm actually thinking of getting a progressive press reloader for mainly 9mm. If it goes well, I'd get new dies for different calibers. In the meantime my BIL has one and offered to let me use it.

[james.hendrickson]

@QMM and @bs The smart thing to do would be to sell the existing 5.56 that I have - I might be able to get double what I paid for it.

At this point I believe in what Warren Buffet has to say, which is basically that America has been through a great depression, two world wars, and the turmoil of the 1960s. We'll make it through this as well.

What I think is a danger at this point is focusing too much on the turmoil and not enough on how to build wealth or better utilize existing opportunities. For example, interest rates are at historic lows, isn't now a good time to think about refinancing? Are there any business that have gone under which could be acquired and restarted? What commodities are people going to need in the future?

[~bs]

James this is all I could get at the time. I wanted a Glock 9 mm but all 9 mm and higher caliber guns are sold out, including .380s' now. Only .22s' remain. The entire process took 3 months and hours and hours of waiting in line. Everyone and their grandmother in Los Angeles wants to get a gun.

You can order online.See below, buds guns. Ships directly to your FFL.

https://www.budsgunshop.com/search.php/type/Firearms/caliber/10000837-9mm

[QuarterMillionMan]

@QMM - well its a sign of the times. In fact, 5.56 millimeter ammunition and webcams are sold out around here. I hope we can get back to normal as soon as possible.

James this is all I could get at the time. I wanted a Glock 9 mm but all 9 mm and higher caliber guns are sold out, including .380s' now. Only .22s' remain. The entire process took 3 months and hours and hours of waiting in line. Everyone and their grandmother in Los Angeles wants to get a gun.

[james.hendrickson]

James that sucks. After the Los Angeles lootings, riots, burning of police cars and buildings, I bought a gun. Hope I don't have to use it but I will if needed.

@QMM - well its a sign of the times. In fact, 5.56 millimeter ammunition and webcams are sold out around here. I hope we can get back to normal as soon as possible.

[QuarterMillionMan]

James that sucks. After the Los Angeles lootings, riots, burning of police cars and buildings, I bought a gun. Hope I don't have to use it but I will if needed.

[james.hendrickson]

Yes, Portland has been seeing ongoing civil disturbances for the past 2 to 3 months.

Things are coming back, slowly but surely. The biggest economic issues are frankly not just the rioting, it's the long term impact of covid. People aren't coming to Portland's downtown at the same level they were before the disease. People are staying home instead of commuting.

Here is a shot of the corner across from my office. You can see several of the businesses and storefronts are still boarded up.



There was some media coverage several weeks ago that said the civil disturbances will cost at least $22 Million. That certainly a under-estimate at this point.

From a pure personal finance standpoint this reveals the wisdom of a couple of basic points of personal finance.

1. Have an emergency fund. Homo sapiens sometimes does crazy/irrational things, and having an emergency fund will help you sleep better at night, rioting or no.

2. Diversify. My landlord here in downtown (good company) holds a ton of downtown real estate in PDX. I suspect they're getting hit hard with the demographic shift to working at home, and the lack of people in the downtown area as a result.

It just goes to show - if you diversity, you'll mitigate your risk.

[QuarterMillionMan]

Chicago & Portland still ongoing.

[QuarterMillionMan]

NYC this week, https://abc7ny.com/protesters-clash-...jured/6318496/

Portland this week, https://www.washingtonpost.com/natio...deral-arrests/

Chicago yesterday, https://www.fox32chicago.com/news/18...s2iA56jqpZkKRI

Los Angeles still has protests but fortunately nothing yet. Wish the violence would stop but I fear it'll only get worse.

[disneysteve]

To be fair, most of the state is sparsely populated.

Definitely. That’s why many states didn’t see super high numbers. They just don’t have that many people. But the more rural areas are now seeing their COVID cases rise. They just lagged behind the urban areas. And as travel picks back up, cases will continue to spread including to areas that had been relatively spared.

[QuarterMillionMan]

I think whats going on is the quarantines caused social and economic disruption, then the George Floyd murder set people off. I did a shallow dive on the literature on rioting and the results were classic. High unemployment in urban areas is a significant risk factor for rioting.

As an aside, this is going to be very, very expensive. Even a small riot can cost over $50 Million in property damage. Some estimates say this week of violence could cost up to 5 trillion dollars.

Source: The L.A. Riot and the Economics of Urban Unrest

Good points. This Sun article explains anti-facism which says it is our nation's DNA, which could also explain the looting and riots.

https://lasvegassun.com/news/2020/jun/04/anti-fascism-is-in-our-nations-dna/

[Petunia 100]

And I believe Clark County, where Las Vegas is, already had the highest COVID numbers in the state. Get ready for those numbers to climb now that the casinos are open with minimal precautions in place.

Cases are on the rise in a number of places as things reopen. Arkansas has the most hospitalized COVID patients right now since the pandemic began. Cases are rising in Texas and elsewhere. NJ will add outdoor dining and indoor retail on 6/15 and then salons and barbers on 6/22 so I'm sure we'll start seeing an uptick in new cases by the end of the month.

To be fair, most of the state is sparsely populated.

[james.hendrickson]

Sounds similar to the mass protests right after Trump was elected.

I wonder how many of those people are genuinely there for a cause and how many are there just to be there?
I remember a reporter asking the younger people protesting when Trump was elected their thoughts on matters.
Time and time again they responded that they didn't even vote in the election.

I think whats going on is the quarantines caused social and economic disruption, then the George Floyd murder set people off. I did a shallow dive on the literature on rioting and the results were classic. High unemployment in urban areas is a significant risk factor for rioting.

As an aside, this is going to be very, very expensive. Even a small riot can cost over $50 Million in property damage. Some estimates say this week of violence could cost up to 5 trillion dollars.

Source: The L.A. Riot and the Economics of Urban Unrest