While the US State Department has announced it is observing the United Nations' International Small Arms Destruction Day, you have to wonder whether their hearts were in it.

As reported here, the small arms market is booming and that's being driven by slack US gun laws. The US imported more than a quarter of the world's small arms, light weapons and ammunition between 2000 and 2006, according to the Small Arms Survey 2009. The study found that the US is the biggest importer of pistols and revolvers, sporting shotguns and small-caliber ammunition.

This is all the more extraordinary when you think about the impact the global recession has had on other markets. All up, gun-loving Americans have driven a 28% jump this decade in world exports of pistols, rifles, shotguns and other small arms. In this economic climate, there are few industries that would have enjoyed the same sort of growth.