Now that the subprime-funded "growth dynamo" that kept the US economy chugging along over the past year has finally choked, as we saw yesterday when auto sales posted the weakest print in half a year, there is just one industry that is keeping US factory orders, which have already declined for 13 consecutive months, from an all out implosion.
War.
As the chart below shows, spending on military aircraft (and parts), mostly purchased by US "allies" in the middle east and elsewhere, just soared to $8.2 billion, a 46.9% jump in one month, and the highest monthly spending spree since... Sept.11.
[4]
Thank you war.
