A Week After Boeing, Trump Attacks Lockheed, Stocks Drop

Donald Trump is back at it. Having attacked Boeing via Twitter, and doing real harm to the company, he has now launched an attack on Lockheed:

As as been noted, this has real consequences, with Lockheed Martin Corp. shares falling 2.5 percent to $253 before the stock market opened Monday and falling quickly 3 percent.

CNBC’s Carl Quintanilla noted,

Kurt Eichenwald called out Trump’s Boeing attacks for his lies, abuse of power and stock manipulation and this represents more of the same.

Trump has said he will work to control costs of military contracts, and it is true that costs for the F-35 have doubled, but apparently his way of doing this is to pre-emptively offending corporations by destroying their stock value. There is plenty wrong with this strategy, and yet another reason Trump is an unsuitable choice as president.

As CNBC reports, “The F-35 program made up 20 percent of Lockheed’s total revenue last year.” This is a man who opens his mouth without any concern for what will happen as a result, and who is about to occupy the most powerful position on the globe. That ought to be terrifying to everyone.

Photo: Twitter/CNBC