The Young Turks on How American Arms Manufacturers are Profiting from Airstrikes in Syria

I’ve blogged today a couple of items on the way the banks, the arms industry and governments are pushing for war in the name of profits, and the immense profits and influence of the global arms trade. Here’s a related video from The Young Turks on the vast profits being made by the arms contractors from air strikes in Iraq and Syria.

Presented by the Turk’s anchor, Cenk Uyghur, the piece gives the following statistic.

The journalist Cliff Judy estimated that each bomb dropped cost $1.6 million. He also estimated that the monthly cost of the war was between $200-300 million. So far – and this piece was released a year ago – American defence contractors – the people manufacturing the weapons, not the Depart of Defense itself, had got $139 billion in contracts.

The waste involved is massive. Between $31 and $60 billion has been wasted by defence contractors in Afghanistan. Uyghur describes a process of massive overcharging, and a cynically blasé attitude to the profits of war, with money brought along in crates which the contractors didn’t even bother to count.

Uyghur makes the excellent point that this is money that could be better spent on peaceful works, building up the local infrastructure back in America, building schools, hospitals, repairing the roads and so on.

The main firm to benefit from the war financially is Lockheed Martin. Other arms manufacturers are also doing extremely well. $105 billion in contracts have been given to the leading five arms manufacturers. And to show you how cynical it all is, Uyghur quotes Jack Ablin, one of the executives of the BMO Private Bank dealing in US investment. Ablin describes the use of weapons and arms systems in preference to boots on the ground as ‘an opportunity’. And as their profits go up, so do these companies share prices.

Uyghur describes the politicians, who are also profiting from this, as whores. Well, that’s what they are, only he’s made the point elsewhere that ordinary prostitutes by and large don’t do anything to harm anyone else. These politicians take money from the defence contractors, and in return they give them contracts. And the same contractors give jobs afterwards to the politicians and generals.

This shows you the truth of the old saying: War is good for business. And business is good.

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One Response to “The Young Turks on How American Arms Manufacturers are Profiting from Airstrikes in Syria”

  1. The Young Turks on How American Arms Manufacturers are Profiting from Airstrikes in Syria | Beastrabban’s Weblog | sdbast Says:

    […] https://beastrabban.wordpress.com/2016/01/02/the-young-turks-on-how-american-arms-manufacturers-are-… […]

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