Why More American Weapons Will Soon Be Made Outside America
New York TimesMar 12
Lockheed Martin Hits Record High After Raising 2024 Sales Target
Above: US Air Force Lockheed Martin F-35 Lightning II multirole combat jet rolls to a hanger at Ramstein Air Base on June 6, 2024, in Ramstein-Miesenbach, Germany. Image copyright: Thomas Lohnes/Stringer/Getty Images News via Getty Images
The Facts
Aerospace and defense firm Lockheed Martin hit a record high on the stock market on Wednesday after its shares jumped further 3.5% in the wake of a Q2 earnings report that exceeded expectations.
According to the results published on Tuesday, net sales in the period rose by 9% year-over-year to $18.1B.
The Spin
Pro-establishment narrative
A strong defense industry in America has effectively two purposes — job creation and assistance to allies and partners needing support such as Israel, Taiwan, and Ukraine. While it's fair to say that Lockheed Martin has won billions with conflicts in Gaza and Ukraine so far, the company offers a strategic advantage to Washington.
Establishment-critical narrative
There's a bad-faith bipartisan claim in America that spending on weapons boosts the economy and creates jobs. Let alone the moral aspect of companies making profits from conflict abroad, that assertion is simply not true. Rather than spending heavily on a new generation of deadly weapons, the US should invest in the civilian sector to improve the quality of life for its citizens.