Are America’s giant armsmakers good investments?

From The Ecomomist

Armsmaking is not like other businesses. It is impervious to macroeconomics and sheltered from fickle consumer tastes. Its prospects are determined by one factor—how militarily threatened its government customers are feeling. 

This sounds like a bonanza in the making—especially for America’s “prime” contractors at the heart of the military-industrial complex.

Instead, American defence bosses appear subdued, and not just because no one likes war.