President Barack Obama and former New York City Mayor Mike Bloomberg are the best gun salesmen of all time.
It's simple: There's apparently nothing that stokes gun sales — and shares of gun company stocks — more than politicians and ex-politician billionaires vowing on national television to impose new restrictions on gun sales.
We first saw this phenomenon in the days after Barack Obama was first elected president in 2008, again after he re-election in 2012, and quite strikingly after the Newtown shooting massacre convinced many gun owners and would-be gun owners that real restrictions were indeed on the way.
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In the early months of this year, it was starting to look like gun sales were slowing down a bit. But now, with Bloomberg's latest $50 million initiative to support pro-gun-control candidates nationwide, the fear-based demand for guns is likely to reignite with a vengeance.
Olympic Arms President Brian Schuetz said in an interview with CNBC last year that he sees a major surge in demand whenever pro-gun control politicians are quoted on television news. The backlash against the AR-15 alone created a back order load his factory had never seen before.
The major gun company stocks tell the same story. Shares of Smith and Wesson have more than tripled since Newtown, and Sturm Ruger has more than doubled in that time.
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Just about all these new guns will be going into the hands of experienced and responsible gun owners who already owned at least one or two guns. But, and I say this as an ardent supporter of gun rights, inevitably there will be some guns that will get into the wrong hands and be used by criminals in violent crimes.
In other words, Bloomberg's efforts will have the practical effect of putting more guns on the streets and making the gun companies and their lobbying efforts even more flush with cash!
This is what happens when politicians think too much about politics and publicity and not enough about the simple laws of economics. You'd expect more from a billionaire businessman like Bloomberg, but perhaps those 12 years in City Hall have made him a bit forgetful.
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But at what point do we simply forgive Mike Bloomberg's supposedly good intentions and just focus on the net results of his efforts? If you favor gun control, you might want to think about that before you cheer Mr. Bloomberg and his efforts.
He might as well be saying: "I'm a politician, and I'll be your gun salesman for today. Would you like to see today's special on the AR-15?"
This is commentary from Jake Novak, the supervising producer of "Street Signs." Follow him on Twitter @jakejakeny.
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