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Wednesday, May 30, 2007

Hey! The Arms Race Is Back On

We took some nice gains on a defense stock in Red-Hot Canadian Small Caps a while back, and obviously, I'm going to have to look at adding more. Get a load of this story ...
Russia Says New ICBM Can Beat Any System
MOSCOW — Russia tested new missiles Tuesday that a Kremlin official boasted could penetrate any defense system, and President Vladimir Putin warned that U.S. plans for an anti-missile shield in Europe would turn the region into a "powder keg."

First Deputy Prime Minister Sergei Ivanov said Russia tested an intercontinental ballistic missile capable of carrying multiple independent warheads, and it also successfully conducted a "preliminary" test of a tactical cruise missile that he said could fly farther than existing, similar weapons.

XX I guess the Russians didn't have anything better to do than start up the arms race again, eh? But the Russians say they're actually late to the party, and that they're just countering potential threats from the Middle East and Asia.

"We see perfectly how our eastern and southern neighbors here, there and everywhere are acquiring short and medium-range missiles," Ivanov said in televised comments at Kapustin Yar, the southern Russian site where the tactical missiles were tested.
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