Conventional ballistic missles are almost always something that poorer, less militarily capable nations use to even the odds with their more advanced first world rivals. Ballistic missles in general have drawbacks-They are innaccurate, that's the biggest one, and in their present form have a more defensive and detterent stance. But they have advantages too. They are much more difficult to kill than a cruise missle, and have long ranges. They can also carry a lot of explosives. And as we have seen in Lebanon, they are hard to find and kill. So, I want to know, why don't first world militaries have conventional ballistic missle stocks of their own. I'm sure that it wouldn't be too difficult for the US, Japan or an EU nation/s to develop a ballistic missle that has precision capability. That would be an incredibly useful tool. So why doesn't one exsist?