The lending arm of General Electric (click here) has stopped offering financing to retailers whose primary business is selling guns. Around 75 retailers are immediately affected. A company spokesman says this is a response to "industry changes, new legislation and tragic events."
Currently, people purchasing guns in the USA are paying at least 18% interest on their purchases. They use credit cards. They are not the best credit risks but are moderate risks.
Gun purchases are investments. These investments are subject to market pressures. They are not good investments because the USA can cause a fall in value when the legislation is passed.
People like the gun owners on this blog are running after empty dreams. They have a faux sense of security by owning dangerous guns. Not only that but the investment they made have a high rate of loss and at least 18% interest raises the cost of the gun over time by more than 20%. If a gun is purchased on credit for $1000.00 there is a very good chance by the time that gun is paid off it will cost far more than $1200.00. That gun will never sell for as much as the purchaser paid for it. Guns will not appreciate that fast in value.
The moderate risk credit card gun purchaser is better off saving the money for better car or paying on their home or getting out of debt.
Buying guns is not assisting the USA's economy, by every measure it is hurting it while using monies people sincerely don't have.
