Thread: America, going, going, gone

This article reveals in 2005, a few recent examples illustrating the self-inflicted damage we are causing our economy and national security.

India buying last US global communications line

According to CNN, Tyco is close to selling its submarine fiber optic telecommunications infrastructure to TATA, India's large conglomerate 26% owned by the Indian government with reported close ties to the Indian military. This infrastructure represents the last undersea global communication link controlled by a US domestic company (Tyco is technically based in Bermuda), and by selling this facility, the United States military will no longer be able to secure any worldwide communication wire. Without this link, is it clear that the US national security is irrevocably and dramatically harmed? Perhaps, but the fact that US government review of this deal is taking only 45 days in total secrecy without congressional oversight is most unimaginable.

UK defense company buying American maker of Bradley tanks

According to the Financial Times, UK company BAE Systems is adding to its growing defense portfolio by acquiring the American company United Defense Industries, makers of Bradley tanks as well as guns and missile launchers. The offer at $4.2B trumped bids by American companies Lockheed Martin and Northrup Grumman. These vehicles are some of the most technologically complex and most utilitarian of today's modern military. The pentagon reportedly requested an extra $1.3B this year to upgrade its fleet of 7,200 Bradley tanks. According to the Federation of American Scientists, these units cost approximately $3.2M per tank. The frustrating aspect of this transaction, notwithstanding the obvious national security implications, is that American bidders were disadvantaged additionally because of the US currency depreciation that is making American assets cheaper to foreign purchasers. US policy is making it impossible for American companies to compete with foreign interests to keep American national and economic security control in the hands of Americans.

F-16's to be made in India

According to the Wall Street Journal, US Secretary of State, Condoleezza Rice is signaling to the Indian government US willingness to authorize establishment of production facilities in India for Lockheed Martin F-16 fighter planes. The deal would coincide with the sale of 125 of these units to India. Lockheed Martin has been lobbying hard for this deal, contending that it will be forced to shut down US production facilities if such sales are not made. According to a defense-industry official quoted by the Journal, production of key sensitive electronics equipment would not be transferred. Despite the claims that the US is leading the world, deals like this demonstrate the real bargaining power of this country.

These sales and trade agreements are merely the tip of the iceberg. There are hundreds of other sales like this which we report on at www.economyincrisis.com. Write your congress person ask what is being done about it. Ask what is being done about our balance of trade deficit (difference between imports and exports), which is bleeding our wealth to foreign owners at the rate of $617 billion per year or $1.4 million per minute.

In fact whole American industries are now being sold to foreign interest (e.g. Movie (Though Provoking) Industry - 69%, Cement Industry - 81%, TV Manufacturing Industry - 100%, and our auto industry is relentlessly sliding into foreign hands.

We sometimes consider that we are painting too bleak a picture to be viewed as realistic. We would like to comment on more positive events in this country. Please let us know if you are aware of positive developments in America that you can be proud of.


Source: www.economyincrisis.org

So where will all these foreigners we're allowing here going to work?

The TATA deal needs to be investigated.

The other deals are pretty standard and have been going on for decades.