In these tough times at least people are still buying missiles
Does your portfolio continue to take a hit in this helter skelter market?
Have you thought about boosting it with some nitroglycerin-filled firepower?
Bloomberg is reporting that Raytheon not only turned a profit but beat analyst estimates.Â This is great news for the defense industry which only received a nominal increase in new appropriations for FY 2009, $711 billion altogether.
That’s just barely more than the banking establishment received three weeks ago.Â For shame, right?
At least we know the monies spent by the military aren’t going to politically connected fat cats and are used to develop productive, multi-use equipment that can be used in peacetime.Â Like APC’s which can double as school buses and farm tractors.Â And mortar cannons which not only scare away pesky birds but plant seeds in those hard to reach places.
What would we ever do if these innovative enterprises ever fell on tough times?Â Back to the stone age for sure.
See also: Credit is Flowing, Sky is not Falling, Don’t Panic
How about banning tanks, jet fighters and submarines?
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The Trillion-Dollar Defense Budget is Already Here
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