Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Yeah, did the swamps step in and save Boeing once
again with the F forty seven. I've been doing a
little homework on this. I've been very very critical of Boeing.
I've explained here on the program the various different ties
between people in government and Boeing, how it's a great
landing spot from people who have worked in the government,
(00:39):
people have worked in the Pentagon, you name it, and
they've had failure after failure. So Trump comes out what
was about a week ago and announces this F forty
seven fighter jet. Mind you, mind you, the F thirty five,
the F thirty five, which is put out by Lockheed
still ain't working properly, still having all sorts of issues
(01:01):
with that. But now we've got another fighter jet here
that we're going to build next generation. This deal right
now could top fifty billion dollars for Boeing. The way
that the deal is structured, it's going to guarantee Boeing
a profit throughout the entire buildout process. Supposedly, this plane
(01:25):
is supposed to work with semi autonomous drones. It's going
to have new stealth strike capacities. You know, all the
bells and whistles anyway, Anyway, Boeing, Boeing has had six
straight annual losses. I've talked about their defense business. The
(01:48):
defense business is about one third of the company's revenue.
They haven't put out They haven't made a fighter jet
since before the nineteen ninety seven merger. There was a
merger between McDonald douglas and Lockheed and Northrop Grumming. Okay, Locke, well, no,
(02:13):
Lockheed merged with Northrop grummand excuse me, McDonald Douglas merged
with Boeing back at the time. Boeing hasn't put out
a fighter jets since that point in time, whereas Lockheed
has put out the F thirty five and also the
B twenty one bomber. Again, Boeing's never built a stealth aircraft.
(02:34):
The training plane it's called the T seven, was developed
and manufactured with SOB. Most of Boeing's programs right now,
we're not working out too well, a lot of glitches
going on. First and foremost Air Force one. Donald Trump
(02:55):
ordered new Air Force one jets from Boeing in his
first term. Boeing is telling him that those planes are
not going to be ready until after he's out of office,
after he's out of office with you know again, this
is you're looking at twelve plus years for this plane. Again,
(03:18):
We're supposed to be delivered a while ago and they
still haven't delivered another one. It's commercial business. The seven
seven seven X, which was designed to connect major cities,
global city, big cities, big airplane, was set to begin
(03:39):
deliveries in twenty twenty. Who knows next year? Year after
the seven thirty seven max variants behind schedule, problem after
problem after problem. Yet you're going to put more on
their plate right now at the expense of the taxpayers.
(04:03):
I can't quite get my arms around that. Again, we
still don't know Boeing nor Trump. They haven't released the
cost estimates for the entire program. But again, the development
phase is going to be covered by US. The whole
(04:24):
development process is going to be covered by US. So
Boeing is not going to lose any money. I'm sorry people,
you know I know I got to give Trump the
benefit of the doubt. I'm sorry, I certain things I
can't Okay, I am I question this. I really do.
Not not to mention the fact. Not to mention the fact.
I mean, you know, we spent the fortune on this
(04:45):
F thirty five, which, again, who knows if it works,
if it doesn't work, seems to have all sorts of issues.
Isn't the future changing to some degree as far as
manned manned air planes fighter jets are concerned. I know,
we like to harken back to uh, you know, Maverick
(05:06):
and top Gun and all that good stuff. But drones
are pretty cheap. Drones are pretty damn cost efficient for
the taxpayer if you ask me so. Again, I'm still
trying to figure this out, but again, this looks like
another revenge of the swamp. Watchdog on Wall Street dot
(05:28):
Com