Could this selling provide a great buying opportunity for those patient enough to WAIT?
Sure. If you assume demand will stagnant. However, if we get to your severe "depression", the last thing folks will do is sell guns and ammo to "pay bills". The only bill they'll be worried about at that point is the mortgage. And Osama is seeing to it that folks won't have to worry about even that. They won't care if Macys doesn't get paid.
A severe depression will cause demand to skyrocket much more than you are currently seeing, so you'll be paying ever higher prices for a dwindling commodity.
So, go ahead and wait for your fire sale. Those of us buying now thank you for not buying now and driving prices higher than they already are.
Should this depression deepen to the point where food becomes unaffordable we will see all manner of goods hitting the pawnshops and estate sales.
Absent a real escalation of internal hostilities, the market could be flooded with unused guns and hoards of ammo.
We will see in a few weeks just which way the compass is pointing.