WICked (big) profits
What government policies drive these profits?
- The Iraq war has been a boom for defense firms which have reaped a windfall from the $314 billion spent so far. Defense profits could continue to surge on future Iraq war spending of $458 billion according to the Congressional Budget Office;
- As you pay $2.50 a gallon for gas, you can derive comfort from the knowledge that the Iraq war has also raised the perceived risk to the steady flow of Middle Eastern oil – increasing oil speculation and raising its price; and
- $1.6 trillion in tax cuts 36.7% of whose benefits went to the top 1% of earners has resulted in a windfall for those who buy $125,000 Maserati Quattroportes as Christmas presents.
In case you feel at risk as a portion of every gallon of gas you buy pays jihad preachers in Saudi Arabia, these WICked big stock profits may balm the wounds.