Zeev's Turnips Patch-No Politics (ZEEV)

[Huluriasquias]

Zeev,

everybody is wondering about today's rally, but I didn't see the following news commented anywhere:

http://story.news.yahoo.com/news?tmpl=story2&cid=544&ncid=703&e=2&u=/ap/20021023/ap_...

This sounds as an "economy reactivation package" to me:

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"a $355.5 billion package giving the wartime Pentagon (news - web sites) "every resource, every weapon and every tool they need." and "4.1 percent salary increase for military personnel"
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This buys a lot of integrated circuits, and the 4% increase in salaries translates immediately into more liquidity for the economy at large.

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Bush Signs Defense Spending Bill
1 hour, 43 minutes ago
By JENNIFER LOVEN, Associated Press Writer

President Bush (news - web sites) signed into law Wednesday the biggest military spending increase since Ronald Reagan (news - web sites)'s administration — a $355.5 billion package giving the wartime Pentagon (news - web sites) "every resource, every weapon and every tool they need."


Overwhelmingly approved by Congress, the measure contains a 4.1 percent salary increase for military personnel, $7.4 billion to keep developing a ballistic missile defense system and $72 billion for new weapons.


With the president contemplating war against Iraq, and U.S. troops involved in an anti-terror campaign across the globe, the law increases Pentagon spending in almost every area for the budget year that began Oct. 1 by a total of more than $34 billion, or 11 percent, over the previous year. It was the biggest increase in 20 years.


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