F-35. Lifting the UK economy?

via Lockheed Martin press release.

LONDON, United Kingdom, Sept. 12, 2013 – Thirteen British companies and the U.K. Minister of Defence Equipment, Support and Technology participated in a Lockheed Martin [NYSE: LMT] Industry Recognition Event during the DSEI tradeshow today. Over the next 40 years, British industry will continue to play a vital role in the F-35’s global production, follow-on development and sustainment, bringing strong economic benefits to the kingdom.
“The F-35 is the largest defence programme in the world,” said U.K. Minister of Defence Equipment, Support and Technology Philip Dunne. “The U.K.’s involvement will generate billions of pounds and tens of thousands of jobs for the British economy for decades to come, with over 500 suppliers across the U.K. already contributing to the production of the F-35. Backed by this government's strategic vision for U.K. aerospace, the F-35 programme allows us to continue to build on the strengths of our nations avionics, systems and sensors industry.”
Steve O’Bryan, vice president, F-35 Business Development, Lockheed Martin Aeronautics added, “Our suppliers here in the U.K. are essential to the success of this program. Together, they will produce 15 percent of each one of the more than 3,100 F-35s planned for the global fleet. We are leveraging their proud legacy of innovation in aerospace to deliver this unprecedented capability to the warfighter.”

Read the whole thing here.

My considered analysis of the claims being made?

Bullshit.

We're seeing a monetary scheme that rivals the fraud seen on Wall Street.  Money is flowing from the US government to Lockheed Martin.  That money is then spread around the world to different sub contractors in strategic countries...countries that are either part of the program or those that tey want to join.  Next, Lockheed Martin charges the US govt and its allies crazy prices for the airplane and when those govts balk at the price, Lockheed Martin can claim all the jobs that are provided by this project.

Its diabolical.  Its fraudulent.  It shouldn't have been allowed.  And it won't work in the end.

The writing is on the wall.  Sequestration will continue and the F-35 will die (Who's gonna save it?  Government deficit reducing Republicans or social spending Democrats?  The budget hawks rule the roost and the F-35 is the biggest pigeon flying).

Nuff said.