Tag Archives: war profiteers

Who Are the Ultimate War Profiteers? U.S. Air Force Veteran Removes the Veil, by Christian Sorenson

We hear all the time about the military-industrial-complex, but what is it, and who’s in it? From Christian Sorenson at covertactionmagazine.com:

While war corporations, or so-called “defense contractors,” make billions in profits, Wall Street is the ultimate beneficiary of today’s nonstop wars. The prosaic nature of war profiteering—far from the work of a shadowy cabal—is precisely why the collusion is so destructive and should be outlawed.

The U.S. ruling class deploys the military for three main reasons: (1) to forcibly open up countries to foreign investment, (2) to ensure the free flow of natural resources from the global south into the hands of multinational corporations, and (3) because war is profitable. The third of these reasons, the profitability of war, is often lacking detail in analyses of U.S. imperialism: The financial industry, including investment banks and private equity firms, is an insatiable force seeking profit via military activity.

The war industry is composed of corporations that sell goods and services to the U.S. government and allied capitalist regimes around the world. Investment banks and asset management firms hold most shares of every major public war corporation.

The best-known financial firms holding the stock of war corporations include: Vanguard Group, BlackRock, State Street, JPMorgan Chase, Wells Fargo, and Wellington Management.

Consider Parsons, a corporation that sells goods and services pertaining to construction, command and control, espionage, and day-to-day military operations. Parsons’ initial public offering in May 2019, valued at roughly $3 billion, earned it an industry Corporate Growth Award. The top holders of Parsons stock are investment banks and asset management firms—including the familiar Vanguard Group, BlackRock, and State Street.

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November 11: Remembering the Tragedy and Legacy of World War I, by H. Patricia Hynes

World War I is probably America’s least remembered and least understood wars. From H. Patricia Hynes at antiwar.com:

Watching Londoners reveling in the streets on Armistice Day*, November 11, 1918, the war critic and pacifist Bertrand Russell commented that people had cheered for war, then cheered for peace – ” the crowd was frivolous still, and had learned nothing during the period of horror.”
~ Adam Hochschild. 2011. To End All Wars: A Story of Loyalty and Rebellion

World War I was the first industrial war: poison gases, flamethrowers, aerial bombing, submarines, and machine guns intensified the scale of war wreckage and war dead, setting the norm for 20th and 21st century wars. By government policy, British war dead were not sent home lest the public turn against the war. Instead they were buried in vast graveyards near battle sites in France and Belgium. Even today Belgian and French farmers plowing fields in places of intense, interminable fighting and mass death on the Western Front unearth an estimated ½ million pounds of war debris and soldiers’ bones each year. (During the Afghanistan and Iraq wars Pentagon policy prohibited media coverage of US war dead arriving at Dover Air Base in Delaware until the ban was lifted, with conditions, in 2015. Many regarded the ban, like the Word War 1 British policy, as hiding the human cost of war that could turn the public against the war.)

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