With over 1 million Iraqis killed, it's easy to be gloomy about the Iraq war. But I think it's important to remember that this dark cloud does have a silver lining:
WASHINGTON (AP) - Defense stocks on Wednesday hit new highs as Defense Secretary Robert Gates requested an extra $42 billion in funding from Congress to cover military costs in Iraq and Afghanistan in 2008.
The AMEX Defense Index, which tracks 14 major defense company stocks, rose 14.25 to a high of 1,686.72 in afternoon trading. Since last year, the index has risen roughly 47 percent, outperforming the broader S&P 500 index, which has climbed nearly 15 percent over the same period. ...
Wall Street and industry executives have sought to assure investors there will be little disturbance in military spending over the next several years -- regardless of who succeeds President Bush in the White House or the withdrawal of U.S. troops in Iraq as proposed by Gen. David Petraeus.
If that doesn't cheer you up, I guess you've got different priorities than Wall Street.
Doesn't cheer me up one whit.
But then again, I'm one of those wacky moonbats who think FDR should have demolished Wall Street back when it was in his hands to do so.
Posted by: Bina | Thursday, September 27, 2007 at 10:42 PM