Defense spending as a percentage of GDP is shrinking and American defense contractors are outsourcing their systems, research, and development. Even worse, the major defense contractors are cutting way back on capital investment and research. Criticize the defense as much as you want but their research has brought us things like the internet and GPS. Instead of investing in research, defense contractors are using their cash for dividends and stock buybacks. In 2014, they gave 102% of their record profits to increase returns to stockholders,. The military wants to “Buy American” but it’s getting harder. Globalists say the military’s thinking is old-fashioned and the military needs to embrace international sources for defense systems and research – including China. You’ll want to listen to manufacturing and technology expert, Richard McCormack present what many perceive as a growing danger to national security. Have the capitalists “sold the rope to our enemies with which they will hang us?”
Also, a brief opening about how 40% of all American jobs are now “contingent” (temporary, part-time, on-call, etc.) and low paying. This will be addressed in the context of a poor quarterly economic report and a housing market that won’t revive. The closing includes a report about how Amazon is trying to be a good European citizen now that multiple governments are going after them for antitrust and tax avoidance. You’ll also be proud of a letter that three former SEC commissioners sent to the current Chairperson of the Security and Exchange Commission: the former commissioners says it’s time to force corporations to disclose campaign contributions. Why won’t Mary Jo White do what she empowered to do with a stroke of the pen?
Guest: Richard McCormack
Learn more at: Manufacturing and Technology News
American History Minute:
Senator Hank Brown