Re: Donald J. Trump’s American Thinker post
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And there we have it - the reason for all the bad press about Boeing. I knew there was a motive somewhere but wasn’t able to see it immediately. I don’t know how these things work but, in my imagination, all planes must have maintenance reports submitted to the FAA, especially those involving highly unusual events that affect passengers. The Biden administration must have someone at or near the top of the FAA exposing these reports to the public to damage their reputation. These events probably happen to all brands but they’re focussed on taking down China’s biggest competitor. I fly a fair amount and will continue to do so, with only minor reservations 😉
The article leaves out an important player/cause for Boeing’s troubles that can apply to American industry across the board, Wall Street. Wall Street bet heavily on China replacing the US as the world’s economic power. To assist in this Wall Street either acquired companies via M&A or become the majority shareholder in American industry leaders and instead of investing in R&D and product development Wall Street made companies ‘invest’ in stock buybacks, milking the companies dry like a parasite sucking the lifeblood out of them.
Example from 1998-2018 Boeing spent $61.8 billion on stock buybacks not R&D nor product development. Boeing has been run by accountants, not engineers, for the last decade.
This has been the Wall Street playbook since the late ‘90s. Acquire an industry leader or become majority shareholder, vote for stock buybacks instead of investing in R&D or product development, burden the company with debt for the stock buybacks, then sell the debt riddled company or export its technology to China or Mexico.
Fellowes, industry leader in office and home paper shredders, moved their mfg. operations to China in the early ‘00s. Noticed China was stealing their intellectual property and almost went bankrupt trying to escape the theft by China. They were lucky and eventually moved out of China but are not the industry leader they once were.
Since the late ‘90s Wall Street invested heavily in China at the same time they were financially crippling American industry. It goes beyond Boeing. Look at GE’s appliance division or Smithfield Foods. Both industry leaders that are now owned by Chinese companies. GE’s demise can also be attributed to their CEO being more interested in making GE a political player instead of industry leader aka corporate fascism. Their former CEO was a big supporter of the Kenyan usurper.
But the one factor IMO that will prevent China from ever becoming the economic powerhouse that Wall Street and the globalist want is demographics. China is forecasted to shrink by 400 million people by 2050.
I think the demographic decline is worse and that by the 2030s China will not have the young people required to be the economic power that Wall Street, the globalists and China itself envisioned. China’s paying for their communist one child policy. Demographics are destiny or as they say the future belongs to those that show up.
The final nail in the China myth will be Trump. One hopes his MAGA platform cripples the Wall Street vampire also.
Boeing earned that bit of chicom heartburn all by itself. Back in the 80’s Boeing was selling planes to china. But then the top floor suits moved their HQ to Chicago and proceeded to get stoopid. China wanted to make their own planes, and for foreign sale, so Boeing sent a crew to teach them how to do it. Without Boeing’s help the chicoms would never have gotten a plane built that would pass international inspection. By no means are they the only outfit to commit commercial seeweecide by schooling the chicoms but they are high in the pack.