F-35 Program Called “Ponzi Scheme” In Australian Senate Hearing
Blue sky marketing is overshadowing major problems with the controversial next-generation fighter planes, a Senate inquiry has been told.
Australia's next-generation jet fighter has been labelled the "jackass of all trades and masterful of none".
Independent military and policy think tank Air Power Australia is dismissive of the plan to acquire 72 Lockheed Martin F-35 Lightning Joint Strike Fighters from the United States.
"Blue sky marketing" was overshadowing major problems with the aircraft, its head Peter Goon told a Canberra hearing of a Senate inquiry investigating the acquisition on Tuesday.
"It has all the hallmarks of a Ponzi scheme," he said.
"When the product fails recruit as many clients as you can, promote the product as loudly as you can, keep the cash flowing for as long as the market remains blind to its failure."
The aircraft was also a risk to the ANZUS alliance - Australia's security pact with the US.
Mr Goon described the aircraft's computer system as a "digital dog leash".
Australia is scheduled to bring its first two planes home in 2018.
Up to 26 fighters are expected to be operational for Australia in 2020 with the number scaling up to 72 by 2023.
The project comes with a $17 billion price tag.
Production has been riddled with delays and budget blowouts as well as problems with flying in lightning and extreme heat.
Retired wing commander Chris Mills insists Australia will never achieve regional air superiority with the F-35.
The Sir Richard Williams Foundation took an opposing view saying the aircraft was unique, revolutionary and represented a generational change.
Former RAAF chief Errol J. McCormack said the F-35 was the only viable candidate that will meet the full range of Australia's air superiority needs in 2025 and beyond.
But he admitted that Lockheed Martin gave thousands of dollars in sponsorship to fund his organisation's seminars.
Australian Strategic Policy Institute director of research Andrew Davies said the F-35 was still the RAAF's best choice for air combat capability.
"There is a small but vocal cadre of F-35 opponents who seize upon any bad news as a sure sign that the program is a colossal error," he told the inquiry.
Dr Davies also acknowledged that Lockheed Martin is a sponsor of his organisation.
(EDITOR’S NOTE: It is interesting to note that the only two F-35 supporters so far heard by the inquiry, both of whom also have filed written submissions, receive funding from Lockheed Martin, the
F-35 prime contractor who obviously has a vested interest in keeping the program going, and as fully-funded as possible, whatever its actual performance and its contractual compliance.)
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Australia's F-35 Jet Acquisition Has Hallmarks of Ponzi Scheme, Inquiry Told (excerpt)Australia's next-generation jet fighter has been labelled the "jackass of all trades and masterful of none".
Independent military and policy think tank Air Power Australia is dismissive of the plan to acquire 72 Lockheed Martin F-35 Lightning Joint Strike Fighters from the United States.
"Blue sky marketing" was overshadowing major problems with the aircraft, its head Peter Goon told a Canberra hearing of a Senate inquiry investigating the acquisition on Tuesday.
"It has all the hallmarks of a Ponzi scheme," he said.
"When the product fails recruit as many clients as you can, promote the product as loudly as you can, keep the cash flowing for as long as the market remains blind to its failure."
The aircraft was also a risk to the ANZUS alliance - Australia's security pact with the US.
Mr Goon described the aircraft's computer system as a "digital dog leash".
Australia is scheduled to bring its first two planes home in 2018.
Up to 26 fighters are expected to be operational for Australia in 2020 with the number scaling up to 72 by 2023.
The project comes with a $17 billion price tag.
Production has been riddled with delays and budget blowouts as well as problems with flying in lightning and extreme heat.
Retired wing commander Chris Mills insists Australia will never achieve regional air superiority with the F-35.
The Sir Richard Williams Foundation took an opposing view saying the aircraft was unique, revolutionary and represented a generational change.
Former RAAF chief Errol J. McCormack said the F-35 was the only viable candidate that will meet the full range of Australia's air superiority needs in 2025 and beyond.
But he admitted that Lockheed Martin gave thousands of dollars in sponsorship to fund his organisation's seminars.
Australian Strategic Policy Institute director of research Andrew Davies said the F-35 was still the RAAF's best choice for air combat capability.
"There is a small but vocal cadre of F-35 opponents who seize upon any bad news as a sure sign that the program is a colossal error," he told the inquiry.
Dr Davies also acknowledged that Lockheed Martin is a sponsor of his organisation.
(EDITOR’S NOTE: It is interesting to note that the only two F-35 supporters so far heard by the inquiry, both of whom also have filed written submissions, receive funding from Lockheed Martin, the
(ends)
Independent military think-tank chief describes computer system of next-generation fighter aircraft as a ‘digital dog leash’
Australia’s next-generation jet fighter has been labelled a “jackass of all trades and masterful of none”.
Air Power Australia, an independent military and policy think-tank, is dismissive of the plan to acquire 72 Lockheed Martin F-35 Lightning Joint Strike Fighters from the US.
“Blue sky marketing” was overshadowing big problems with the aircraft, the group’s head, Peter Goon, told the Canberra hearing of a Senate inquiry investigating the acquisition on Tuesday.
“It has all the hallmarks of a Ponzi scheme,” he said.
“When the product fails, recruit as many clients as you can, promote the product as loudly as you can, keep the cash flowing for as long as the market remains blind to its failure.”
The aircraft was also a risk to the ANZUS alliance – Australia’s security pact with the US.
Goon described the aircraft’s computer system as a “digital dog leash”.
Australia is scheduled to bring its first two planes home in 2018. Up to 26 fighters are expected to be operational in 2020, and the number is expected to reach up to 72 by 2023. The project has a $17bn price tag. (end of excerpt)
Click here for the full story, on The Guardian website.
-ends-
Australia’s next-generation jet fighter has been labelled a “jackass of all trades and masterful of none”.
Air Power Australia, an independent military and policy think-tank, is dismissive of the plan to acquire 72 Lockheed Martin F-35 Lightning Joint Strike Fighters from the US.
“Blue sky marketing” was overshadowing big problems with the aircraft, the group’s head, Peter Goon, told the Canberra hearing of a Senate inquiry investigating the acquisition on Tuesday.
“It has all the hallmarks of a Ponzi scheme,” he said.
“When the product fails, recruit as many clients as you can, promote the product as loudly as you can, keep the cash flowing for as long as the market remains blind to its failure.”
The aircraft was also a risk to the ANZUS alliance – Australia’s security pact with the US.
Goon described the aircraft’s computer system as a “digital dog leash”.
Australia is scheduled to bring its first two planes home in 2018. Up to 26 fighters are expected to be operational in 2020, and the number is expected to reach up to 72 by 2023. The project has a $17bn price tag. (end of excerpt)
Click here for the full story, on The Guardian website.
-ends-
