US Weapons Manufacturers Enjoy Soaring Profits Thanks to War in Ukraine
The US military-industrial complex is making massive gains as a result of the war in Ukraine and other global conflicts, with weapons manufacturers enjoying soaring profits.
Data released by the State Department shows that US weapons sales to other countries rose from $103.4 billion in 2021 to $153.7 billion in 2022.
The leap was largely thanks to US support for prolonging the war in Ukraine.
Germany’s order of 35 F-35 Joint Strike Fighter airplanes for $8.4 billion and Poland’s $6 billion spend on 250 M1 Abrams tanks also bumped up the numbers.
$3 billion in weapons sales to Saudi Arabia, a country which the Biden administration promised to stop arming due to its war in Yemen, also inflated the figure, as did $2.2 billion to the United Arab Emirates and a $1.1 billion weapons package for Taiwan.
Lockheed Martin, which develops the F-16, F-22, and F-35 fighter jets, saw its profits jump 7.13% to $19 billion in the fourth quarter of 2022.
Northrop Grumman is also expected to report 11.8% revenue growth for fourth quarter earnings, thanks in part to its manufacture and sale of F-35 fighter jets.
Raytheon, the maker of the Patriot Air Defense System which the Biden administration is set to supply Ukraine with, enjoyed a Q4 profit rise of nearly 18% compared to last year.
News of the profits has served as a reminder of a 1935 essay written by United States Marine Corps Major General Smedley D. Butler, who famously said “war is a racket,” pointing out how gunpowder manufacturer the DuPont Company saw their profits increase by more than 950% during The Great War.
Meanwhile, Ukraine President Volodymyr Zelenskyy’s comments to Sky News will be music to the ears of the permanent war industry.
In an interview with Kay Burley, Zelenskyy said he was “not interested” in meeting with Putin or anyone else from Russia for peace talks.
Yesterday, German Foreign Minister Annalena Baerbock basically declared war on Russia during a debate at the Parliamentary Assembly of the Council of Europe (PACE).
“We are fighting a war against Russia and not against each other,” said Baerbock.
German foreign minister declares war on Russia pic.twitter.com/C4cAqnZXhD
— Michael Tracey (@mtracey) January 25, 2023
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Author: Paul Joseph Watson