Saturday 11th of July 2020

a financial obscenity .....

a real financial crisis .....

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.

http://news.bbc.co.uk/2/hi/business/8086117.stm

mother courage and her children...

Systemic Success: Blood Money and Black Gold in Iraq
Written by Chris Floyd      
Thursday, 12 November 2009 12:37
The New York Times is shocked -- shocked! -- to find personal enrichment of American elites at the heart of the rape and gutting of Iraq. Who could possibly have ever foreseen such a scenario as the Times revealed on Thursday, describing how "influential American adviser" Peter Galbraith helped "ram through" highly controversial provisions in the constitution that the occupying force and its collaborators imposed – provisions that could put more than $100 million in Galbraith's pocket.

Of course, Galbraith's war-profiteering machinations are hardly unique; the roll call of "advisers" and officials and other insiders feasting on Iraqi corpseflesh is longer than the Mississippi, and considerably more muddy. Just this week, the Financial Times noted that another gaggle of occupation geese, "including Zalmay Khalilzad, former US ambassador to Baghdad, and Jay Garner," the first appointed satrap of the conquered land, are now cashing in on their blood-soaked connections in Iraq.

Given the fact of the rampant corruption among the murder-mongering elite, one might darkly suspect that this sudden spotlight on Galbraith could be related to the embarrassment he recently caused to the Obama administration, which ordered the UN to fire him from his special envoy post after he insisted on a full investigation of the massive fraud in the Afghan elections. (Although one can't but wonder now if Galbraith took this principled stand only after failing to cut some juicy sweetheart deal with Hamid Karzai.)

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The smell of bacon coming home... read more of Chris Floyd..

air show...

Airbus said yesterday it has received US$5.3 billion (A$5.7 billion) in orders and letters of intent for new aircraft at the Dubai Airshow, while rival Boeing announced two orders for less than US$800 million (A$860 million).

"We had a good airshow, better than many expected," said Airbus chief operating officer John Leahy in a statement released a day before the biennial show ends, with overall sales down sharply on 2007.

The Airbus orders were for 15 aircraft worth more than US$3.6 billion, in addition to memorandums of understanding on another 18 valued at around US$1.7 billion.

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Meanwhile the warplanes manufacturers have made a killing with impressive increased sales. see toon at top...