The Indian Air Force is about to spend $10 billion on new fighter planes. That’s a lot of employment and corporate profit for whoever wins the bid. They have now disqualified both US proposals, one from Boeing and the other from Lockheed, leaving two European planemakers in the contest.
Now, I don’t have a great deal of interest in these kinds of deals but my attention was caught by this particular paragraph:
“The two European fighters are generally seen as aerodynamically superior, having outperformed both US-made aircraft in tests under the adverse climatic conditions in which they might have to be used, particularly in the high altitudes and low temperatures of northern Kashmir. Experts suggest that the American planes are technologically ten years behind the European ones.
How can that be? How can that be? Don’t the US military-industrial complex get half a trillion dollars each and every year? And they are ten years behind? At least ten Maddof-sized scams are being pulled on the US taxpayer each and every year by these corporations and their bureaucratic brothers.
The true inefficiency of the US state-capitalist system is about equal to the inefficiency of the former-USSR state-capitalist system. We are seeing the warping effect this has on the economy all around us, with massive systemic failures in health care, industrial manufacturing, unemployment, budget deficits and bubbles of every kind. What the hell would happen to the American economy if peace broke out? The War on Terrorism, the War on Drugs, Iraq, Afghanistan, Pakistan, Libya, etc: these are all vital inputs that drive the machine and the corporations.
And none of this is new; many people have understood this for a long time. The term “peace dividend” was even floated in the early 1990s after the Ruskies threw in the towel. But now, two decades later, we find the US ever deeper in the mire. It is hard to know how to unravel the socialist-style dependence the rest of the US economy has on these unsustainable levels of defense spending. In the end, it is hard to see anything other than a true crash.