But Arnott's statistical tests indicated that the natural tendency of good earnings to follow bad was a far less powerful predictor of ten-year earnings growth than the payout ratio itself.

FORBES: The great stock illusion

In fact, one leading analyst has calculated that Republican dominance of the government explains about 90 percent of the increases in weapons outlays over the last 50 years, making partisan control a much more powerful predictor of demand than threats, deficits or public opinion.

FORBES: GOP Electoral Victory In 2012 Could Rescue Defense Industry