(TheLibertyRevolution.com)- Reports show that as a result of the war in Ukraine and other international conflicts, the US military-industrial complex is profiting greatly, with weapons manufacturers seeing skyrocketing profits.
According to data made public by the State Department, US arms exports to other nations increased from $103.4 billion in 2021 to $153.7 billion in 2022.
US assistance in supporting the war in Ukraine is mainly responsible for the increase.
According to a report, remarks made by the Ukrainian President to the media will make the war industry extremely happy. In an interview, Zelenskyy stated he was not interested in meeting with President Putin or anyone else from Russia for peace talks. It doesn’t appear that President Joe Biden will implore him to do so.
Reports reveal the numbers for the weapons manufacturers were also boosted by Poland’s $6 billion purchase of 250 M1 Abrams tanks and Germany’s $8.4 billion purchase of 35 F-35 Joint Strike Fighter aircraft.
The figure was also inflated by $3 billion in arms sales to Saudi Arabia, which the Biden administration had promised to stop arming because of its conflict in Yemen. Along with a $1.1 billion arms package for Taiwan, $2.2 billion went to the United Arab Emirates.
In the fourth quarter of 2022, Lockheed Martin, which creates the F-16, F-22, and F-35 fighter jets, saw a 7 percent profit increase to $19 billion.
Due in part to its production and sale of F-35 fighter jets, Northrop Grumman is also anticipated to report fourth-quarter revenue growth of 11.8 percent.
The Patriot Air Defense System was created by Raytheon, which saw its Q4 profits increase by nearly 18 percent from the previous year.
The Biden administration plans to provide Ukraine with this system.
Major General Smedley D. Butler of the United States Marine Corps is credited with coining the phrase “war is a racket,” referring to how the DuPont Company, a gunpowder maker, saw its profits rise by more than 950% during World War I.