I have to agree, the financial strains "
Corna" this is putting on the world economy's is huge! It's not now going to happen by tomorrow (Which means another
HUGE drop of the Dow.) as hoped, but, we're about to approve the largest economic stimulus bill in the history of the U.S.
Our current National Debt (U.S) is sitting around
23.3 Trillion Dollars, this bill will equal
8.58% of the
current debt at
2 Trillion Dollars. That bill is designed to
ONLY cover a period of
10 -12 weeks. If there's no improvement of the current situation a follow-up bill might be revisited.
We can absolutely see a reduction and or "
slow down" in defense acquisitions around the world if this is not resolved in the next few months.
The money for the current Defense Authorization bill has already been allocated for this Fiscal Year (Until
30 SEP 2020.) but, that being said, the
Department of Defense does represent the second highest "
individual component" (This includes the
Overseas Contingency Operations of our budget. Pays for wars etc.) behind Social Security the electrify "
third rail" of politics here.
Logic follows that behind social programs, the defense budgets of most countries especially in parts of Asia and Europe will find themselves in the same situation as us
potentially.
And you have to wonder what's going on in Russia as, at least here there's not much news except for the current "
Oil War" between
Russia and neighboring countries against
Saudi Arabia and oddly in regards to the last
OPEC.
By all appearances Oil in Russia is going for about
$55.00 per barrel which is about 3 to 4 dollars
less then they budgeted for. Oil and some other national resources is what's paying for their defense budget. I still am
not seeing
ARMATA/T-50 and ARMATA
IFV (
T-15) before
2025, especially with this these issues currently going on in Russia.
https://www.rbth.com/business/331683...ussias-economy
https://guidetopetersburg.com/corona...ent-situation/
https://www.themoscowtimes.com/2020/...arch-22-a69117
So we might see a "
blood bath" in some OOB's. And in line with this Thread,
AJAX wasn't isn't even to start
IOC until this Fall. How will this affect that? It's too soon to tell except, you can bet I'll be watching this and other programs
very closely over the next several months.
I devoted 15 years of my career concerning financial issues relating to our sailors.
If you are investing for your retirement, "
stay the course" there's a reason it's called "
dollar cost averaging" and this is a good time to be invested if your "
time horizon" until retirement is still few years off.
I hope everyone (And your families.) can hang in there, it will end hopefully in the next few months. As many of my former compatriots (Sub Folks) are posting "Self Isolation" at home is nothing!!
We are home with our families, we can eat what we want, we can look out the windows, we can watch TV, access computers, listen to music, read a good book, use a phone, we even watch Sunrises and Sunsets and so much more!!
We couldn't (And still can't.) do most of any of that on a Submarine.
And like working on a Submarine the DOD expects me to come to work and I'll be there for the duration.
As I know many of you out here have to do the same.
Stay Strong!!
As a CO once told me and in writing "I was the conscious of the command."
I don't assume that role here, but I hope you know where I'm coming from.
Regards,
Pat
