Faustian Posted June 8, 2009 Report Share Posted June 8, 2009 Truly incredible figures....especially for America, George Bush spent BIG! http://news.bbc.co.uk/1/hi/business/8086117.stm Military spending sets new record By Jorn Madslien Business reporter, BBC News The value of military hardware manufacturers has soared. Global military spending rose 4% in 2008 to a record $1,464bn (£914bn) - up 45% since 1999, according to the Stockholm-based peace institute Sipri. In contrast with civilian aerospace and airlines, the defence industry remains healthy. "The global financial crisis has yet to have an impact on major arms companies' revenues, profits and order backlogs," Sipri said. Peace-keeping operations - which also benefit defence firms - rose 11%. Missions were launched in trouble spots such as Darfur and the Democratic Republic of the Congo. "Another record was set, with the total of international peace operation personnel reaching 187,586," said Sipri, or Stockholm International Peace Research Institute. Growth industry As the world's aerospace and defence industry prepares for next week's Paris air show centenary, it seems much of the focus is set to shift away from troubled civilian aircraft makers, which are struggling with reduced orders from recession-hit airlines, towards the companies that make fighter jets and other military hardware. The top 10 global arms producers Boeing $30.5bn BAE Systems $29.9bn Lockheed Martin $29.4bn Northrop Grumman$24.6bn General Dynamics $21.5bn Raytheon $19.5bn EADS (West Europe) $13.1bn L-3 Communications $11.2bn Finmeccanica $9.9bn Thales $9.4bn Source: Sipri The purchasing power of peace Source: Sipri. All figures from 2007. In total, the 100 leading defence manufacturers sold arms worth $347bn during 2007, the most recent year for which reliable data are available. Almost all the companies were American or European. Some 61% of the total was accounted for by 44 US companies, with 32 West European companies accounting for a further 31%. Other companies were Russian, Japanese, Israeli and Indian. "Since 2002, the value of the top 100 arms sales has increased by 37% in real terms," Sipri said. "The US presidency of George W Bush... was a period of continuity in the arms industry. This followed a period of consolidation in the 1990s and early 2000s." The US aerospace and defence giant Boeing remains the world's largest, with arms sales of $30.5bn during 2007. The UK's BAE Systems ranked a close second, with arms sales of $29.9bn, while Lockheed Martin was third with $29.4bn in sales. Big spender The top 10 military spenders USA $607bn China $84.9bn France $65.74bn UK $65.35bn Russia $58.6bn Germany $46.87bn Japan $46.38bn Italy $40.69bn Saudi Arabia $38.2bn India $30.0bn Source: Sipri. All figures from 2008. The US remains the biggest spender, accounting for 58% of the total global spending increase during the decade, though China and Russia have reduced the gap. Both tripled military spending over the decade, and Russia "is maintaining plans for further increases despite severe economic problems". Military spending in the Middle East fell slightly during 2008, but Sipri saw this as a temporary drop. "Many countries in the region [are] planning major arms purchases," Sipri said. One exception was Iraq, whose military budget rose 133% during 2008 when compared with 2007. "Iraq remains highly dependent on the US for ams supplies, with numerous orders planned," Sipri says. US military spending accounted for 58% of the total global spending increase during the decade, with extra funds set aside to fight the "war on terror". [color:red]In addition, the wars in Afghanistan and Iraq cost the US $903bn.[/color] "The idea of the 'war on terror' has encouraged many countries to see their problems through a highly militarised lens, using this to justify high military spending," said Sam Perlo-Freeman, head of the military expenditure project at Sipri, or Stockholm International Peace Research Institute. Trouble ahead? [color:red]High levels of military spending can cause economic difficulties for even the wealthiest of nations, Sipri insisted. "During the eight-year presidency of George W Bush, US military expenditure increased to the highest level in real terms since World War Two," Sipri said.[/color] [color:red]"This increase has contributed to soaring budget deficits," the yearbook states, pointing to how both the Iraq and Afghanistan conflicts were funded "primarily through emergency supplemental appropriations outside the regular budgetary process", funded by borrowing.[/color] "Arms companies may face reduced demand in the future if governments cut military spending in response to rising budget deficits," Sipri observed. Link to comment Share on other sites More sharing options...
Flashermac Posted June 9, 2009 Report Share Posted June 9, 2009 Maybe the government will have to nationalise the US government, the way they are the auto industry. Link to comment Share on other sites More sharing options...
cavanami Posted June 9, 2009 Report Share Posted June 9, 2009 As long as the "legal bribery" (lobbyists) are allowed to operate then there is always going to be a HUGE military budget and lots of other waste! Link to comment Share on other sites More sharing options...
TheCorinthian Posted June 9, 2009 Report Share Posted June 9, 2009 So in what decade did military spending ever go down? Link to comment Share on other sites More sharing options...
Flashermac Posted June 9, 2009 Report Share Posted June 9, 2009 1780s, when Congress cut the Army down to about 100 officers and abolished the Navy and Marines? Probably in the 1920 after WWI, when the US was disgusted with the mess Europe made of handling the peace treaties and became isolationist. Link to comment Share on other sites More sharing options...
TheCorinthian Posted June 9, 2009 Report Share Posted June 9, 2009 So 2 out of 20? Link to comment Share on other sites More sharing options...
Flashermac Posted June 9, 2009 Report Share Posted June 9, 2009 Probably after every early war the US fought. Remember that until the late 1800s, the US tried to rely on a militia system - which never worked all that well except in small local conflicts (Indian squabbles). I imagine it is only since WWII that things have changed, thanks to the Cold War and the current world mess. Ever seen films of the US sinking perfectly good warships just for the hell of it in the 1920s and early '30s? Remember the proposal about that time to abolish the USMC as "unnecessary"? I knew a retired colonel who was commissioned in the Army in the late 1930s. He said the Army was so small that many officers were retiring as O-3s. Post commanders might be O-2s. Even between Korean and Vietnam there was a big military cutback. A buddy joined the Marines in 1956. He told me it took about two years to make E-2, and you'd get E-3 at around three years. E-4 and up were career ranks. It was Vietnam that brought about the rapid promotions. I know a retired sergeant major who made E-9 in just 9 years! Of course, this is not to say the Feds didn't spend a helluva lot of taxpayer money on fancy technology and aircraft at the same time they were shafting the military personnel. Link to comment Share on other sites More sharing options...
TheCorinthian Posted June 9, 2009 Report Share Posted June 9, 2009 True, but my point is, it almost never goes down an if it does, it shoots (heh!) right back up to a (at the time) unheard of level in about 10 years or so. Now of course after a major war, WWII Civil, Vietnam, of course it will go down as we quite using $1m missiles or needing new battleships. But over a whole, over time, military spending never goes down for long. Link to comment Share on other sites More sharing options...
.. Posted June 9, 2009 Report Share Posted June 9, 2009 Sadly agreed. The US simply likes war too much. Loves it, in fact (I laugh when some pol says the US is a peace-loving nation). I do not think that there has been a year in my lifetime that we were NOT blowing up some country. Cheers, SD Link to comment Share on other sites More sharing options...
Flashermac Posted June 9, 2009 Report Share Posted June 9, 2009 So you're the one who's to blame! :cussing: Link to comment Share on other sites More sharing options...
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