Classic case of price/demand inelasticity. But when the ammo bubble bursts and the prices come back down, you’ve still got ammo. That’s something.
Intellectually, I know you're right about this, but I have a really bad feeling about the "non-market" influences on guns and ammo are going to make this bubble a lot different.
If not, I'm going to have to study up on homemade powder production and used primer reconstitution in addition to boolit casting.