Defense contractor stocks have been one of the best performing stock market sectors this century. Nothing suggests that they won’t continue to shine. From William Astore at tomdispatch.com:
The U.S. Military, Post-Afghanistan
Can We Finally Give Peace A Chance?
Yoda, the Jedi Master in the Star Wars films, once pointed out that the future is all too difficult to see and it’s hard to deny his insight. Yet I’d argue that, when it comes to the U.S. military and its wars, Yoda was just plain wrong. That part of the future is all too easy to imagine. It involves, you won’t be shocked to know, more budget-busting weaponry for the Pentagon and more military meddling across the globe, perhaps this time against “near-peer” rivals China and Russia, and a global war on terror that will never end. What’s even easier to see is that peace will be given no chance at all. Why? Because it’s just not in the interests of America’s deeply influential military-congressional-industrial complex.
When that vast complex, which President Dwight Eisenhower warned us about six decades ago, comes to my mind, I can’t help thinking of a song from the last years of the then seemingly endless Cold War. (How typical, by the way, that when the Soviet Union finally imploded in 1991, it barely affected Pentagon funding.)
“The future’s so bright (I gotta wear shades)” was that 1986 song’s title. And I always wonder whether that future could indeed be nuclear-war bright, given our military’s affection for such weaponry. I once heard the saying, “The [nuclear] triad is not the Trinity,” which resonated with me given my Catholic upbringing. Still, it’s apparently holy enough at the Pentagon or why would the high command there already be planning to fund the so-called modernization of the American nuclear arsenal to the tune of at least $1.7 trillion over the next 30 years? Given this nation’s actual needs, that figure blows me away (though not literally, I hope).