Banning Russian-made AK-47s sets off a U.S. buying frenzy

Thirty-six hours after the Obama administration banned importation of the classic brand of AK-47 assault rifles as part of sanctions against Russia, a Maryland dealer specializing in the weapon took stock of its inventory. There was nothing left. Laboring almost nonstop, workers at Atlantic Firearms in Bishopville, a Worcester County community on the Eastern Shore, had shipped hundreds of Russian-made AK-47s — an assault rifle prized by both consumers and despots — as buyers wiped…

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JPMorgan Warns Military Escalation In Ukraine “May Lead To A Lehman-Style Shock”

The sudden military escalation in Ukraine in recent days has, according to JPMorgan’s Alex Kantarovich, reduced the earlier hopes that the high level meeting in Minsk on 26 August would help to defuse the conflict. As Kantarovich warns, the markets are now bracing for the US/EU responses. In the worst case scenario, now appearing more likely, severe pressure on stocks may extend. As he concludes, “we believe that with the significant deterioration in the Ukrainian…

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