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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (3169)	12/11/2003 10:01:20 AM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 110194

Drag on the European economies? Not so fast. NATO was not a free lunch, all European national armies were integrated into NATO under US command (special case for France, part of NATO but not part ofthe integration). NATO set the missions, standardization of equipments (US made of course), defense costs paid by the different European countries. Results of the US lead NATO structure is that Europe had no credible defense industry and relied on the US defense industry to buy equipment. No free lunch. Far from being a drag on European economies, Europe is going to expense for it's defense on own build gear. This is another drag on the US defense industry instead.