“…the Pentagon is very powerful. The Deputy Secretary of Defense, Kathleen Hicks could simply start smashing heads on competition and begin telling contractors that if they don’t shape up, she will start an internal war against them. Or the head of the Armed Services Committees could threaten the cushy cash flow that leads to record stock buybacks among contractors, if the ramp-up doesn’t start. Or they could grant antitrust authority for the DOD straight-up, which would rely on a national security standard that allows widespread corporate restructuring without the long slog of a court case. There are many paths.
“But if you actually look at the guts of the bureaucracy, nothing is happening, because doing something about our industrial base means thwarting Wall Street, and that’s generally not something that’s considered on the table among normie policymakers.”