Think defense contractors will be insulated from the coming collapse?

A lot of people I talk to think that defense contractors are going to somehow magically use their political influence to avoid economic collapse.  While I do not disagree that the "defense" industry has waaaaay too much political power these days, the chart of Northrup-Grumman stock is saying something quite different.  If you think about it, these companies are like the "powerhouses" of Europe (Germany and France).  In other words, they are not powerhouses at all in reality.  They are as dependent on the existence of ever-increasing credit for their "growth" (growth of the money supply that is). Without it they will be shown to be, well, defenseless.

NOC looks like it will play out as an expanding wedge so the fall from current highs should be rapid and dramatic.  That is a good setup for the use of put options.