Despite the damage coronavirus lockdowns did to the world’s economy, 2020 marked a record high in global military spending, according to a new report. As always, the US was in the lead, accounting for 40.3 percent of the world’s military expenditures at $738 billion.
The report, released by the International Institute for Strategic Studies (IISS), says total military expenditures added up to $1.83 trillion in 2020, a 3.9 percent increase from 2019. “This came despite the coronavirus pandemic and the subsequent contraction in global economic output,” the IISS said.
Second behind the US was China, which accounted for 10.6 percent, or $193.3 billion. After the US and China, the top spenders were India, the UK, and Russia.
The report said military spending increased in the US by 6.3 percent in 2020. In China, it grew by 5.3 percent, slightly lower than the 5.9 percent growth seen in 2019.
European NATO countries have increased military spending by 20 percent since 2014, according to the report. Although in 2020, Europe’s military spending only grew by 2 percent, compared with 4.1 the year prior. But overall, IISS believes Europe could be where the most growth in defense spending is seen in the coming years.
A crime. An absolute crime. Add to that the $9.6 Trillion bailout that Wall Street banks have received since September 17, 2019.
A large portion of the spending goes to high personnel costs including for females (because there aren’t enough eligible males) in combat units which limits their effectiveness especially after they are set upon by horny males. Another large portion of spending goes for a long list of items which don’t function properly and/or are high maintenance (LCS, Zumwalt, F-35, tanker, etc.)
The MIC of course doesn’t look at it as spending but as income, especially useful for congress-critter campaign expenses which insure their longevity in office.
“The report said military spending increased in the US by 6.3 percent in 2020.”
While our life expectancy dropped. So we’re good.
https://asiatimes.com/2021/02/putin-crusaders-and-barbarians/
Putin, Crusaders, and Barbarians.