The Essential National Security Economics of the U.S. Navy - Part 6
Closing Reflection — Where U.S. Manufacturing Stands Today
When you line it all up — South Korea’s massive yards, China’s industrial machine, Newport News’ bottleneck, America’s few scattered facilities, and the ghost of Tampa’s lost capacity — the picture is sobering.
The United States still has the crown jewels: nuclear-powered carriers and submarines that no other country can match. Those remain technological marvels and symbols of global reach. But outside of those highly specialized vessels, our shipbuilding base has grown dangerously thin. It has not been decimated — a loss of ten percent. It has not been annihilated — a loss of one hundred percent. Instead, it is caught somewhere in between, hollowed out to the point where the margin of safety is razor-thin. That is dangerous, because naval power is not just about today’s fleet. It is about the ability to replace losses, expand rapidly, and keep pressure on adversaries in a prolonged conflict.
China understands this. That is why they have covered their entire coastline with yards. South Korea understands this. That is why they treat Ulsan as a national treasure. During World War II, we understood it. We spread shipbuilding across both coasts, inland rivers, and every available port. We did not rely on one yard. We relied on many. And that depth won the war at sea.
Today, America is still strong, but the foundation is fragile. If one yard stumbles, the entire fleet feels it. If one dry dock falls behind, schedules ripple for years. That is the price of letting manufacturing capacity shrink to the edge of viability.
This is not a call for despair. It is a call for awareness — and for conversation. At Truesdell Wealth, we study these patterns not just because they are fascinating history or current events, but because they connect directly to how we invest. Military procurement is not just a defense policy issue; it is an investment reality. That is why we maintain a separately managed account we call the Military Procurement Portfolio. It is designed to track and engage with the very companies that build, supply, and sustain America’s fleet.
To continue this conversation, I would like to personally invite you to our next Casual Cocktail Conversation. The topic: the United States Navy, with a focus on aircraft carriers — the most powerful and complex ships in the world, built only at Newport News. This event will be held at the Stonewater Club. Reservations are required. Call 352-612-1000 for more information and to reserve your place.
This session is part of our ongoing discussion series, where we take complex issues like shipbuilding, defense procurement, and American manufacturing, and make them understandable, relatable, and relevant to your financial future. Because understanding the world’s industrial and military balance of power is not just about strategy at sea. It is about strategy in your portfolio.
At our upcoming Casual Cocktail Conversation at the Stonewater Club in Stone Creek, Ocala, Florida, I will be expanding on the themes we have just walked through together. We will go deeper into the industrial realities of America’s naval shipbuilding, but more importantly, we will open the floor for a wide-ranging discussion. This is not just about numbers, yards, and tonnage — it is about the history, philosophy, and strategy of sea power, and what it means for the United States today.
I will share additional details about the U.S. Navy’s unique position in the world, from its modern reliance on a handful of shipyards to the historic lessons of John Paul Jones, who gave us the Navy’s fighting spirit, and Teddy Roosevelt, who sent the Great White Fleet around the globe as a symbol of American strength. These stories are not just patriotic anecdotes; they are reminders of how sea power has always been tied to industrial power, leadership, and vision.
Most importantly, this will be a conversation, not a lecture. I want those in attendance to share their own perspectives, opinions, and ideas. The strength of these gatherings comes from the exchange of viewpoints, the connections we make, and the insights we draw together. I invite you to bring your voice to the table as we connect the past, present, and future of the United States Navy.
When you line it all up — South Korea’s massive yards, China’s industrial machine, Newport News’ bottleneck, America’s few scattered facilities, and the ghost of Tampa’s lost capacity — the picture is sobering.
The United States still has the crown jewels: nuclear-powered carriers and submarines that no other country can match. Those remain technological marvels and symbols of global reach. But outside of those highly specialized vessels, our shipbuilding base has grown dangerously thin. It has not been decimated — a loss of ten percent. It has not been annihilated — a loss of one hundred percent. Instead, it is caught somewhere in between, hollowed out to the point where the margin of safety is razor-thin. That is dangerous, because naval power is not just about today’s fleet. It is about the ability to replace losses, expand rapidly, and keep pressure on adversaries in a prolonged conflict.
China understands this. That is why they have covered their entire coastline with yards. South Korea understands this. That is why they treat Ulsan as a national treasure. During World War II, we understood it. We spread shipbuilding across both coasts, inland rivers, and every available port. We did not rely on one yard. We relied on many. And that depth won the war at sea.
Today, America is still strong, but the foundation is fragile. If one yard stumbles, the entire fleet feels it. If one dry dock falls behind, schedules ripple for years. That is the price of letting manufacturing capacity shrink to the edge of viability.
This is not a call for despair. It is a call for awareness — and for conversation. At Truesdell Wealth, we study these patterns not just because they are fascinating history or current events, but because they connect directly to how we invest. Military procurement is not just a defense policy issue; it is an investment reality. That is why we maintain a separately managed account we call the Military Procurement Portfolio. It is designed to track and engage with the very companies that build, supply, and sustain America’s fleet.
To continue this conversation, I would like to personally invite you to our next Casual Cocktail Conversation. The topic: the United States Navy, with a focus on aircraft carriers — the most powerful and complex ships in the world, built only at Newport News. This event will be held at the Stonewater Club. Reservations are required. Call 352-612-1000 for more information and to reserve your place.
This session is part of our ongoing discussion series, where we take complex issues like shipbuilding, defense procurement, and American manufacturing, and make them understandable, relatable, and relevant to your financial future. Because understanding the world’s industrial and military balance of power is not just about strategy at sea. It is about strategy in your portfolio.
At our upcoming Casual Cocktail Conversation at the Stonewater Club in Stone Creek, Ocala, Florida, I will be expanding on the themes we have just walked through together. We will go deeper into the industrial realities of America’s naval shipbuilding, but more importantly, we will open the floor for a wide-ranging discussion. This is not just about numbers, yards, and tonnage — it is about the history, philosophy, and strategy of sea power, and what it means for the United States today.
I will share additional details about the U.S. Navy’s unique position in the world, from its modern reliance on a handful of shipyards to the historic lessons of John Paul Jones, who gave us the Navy’s fighting spirit, and Teddy Roosevelt, who sent the Great White Fleet around the globe as a symbol of American strength. These stories are not just patriotic anecdotes; they are reminders of how sea power has always been tied to industrial power, leadership, and vision.
Most importantly, this will be a conversation, not a lecture. I want those in attendance to share their own perspectives, opinions, and ideas. The strength of these gatherings comes from the exchange of viewpoints, the connections we make, and the insights we draw together. I invite you to bring your voice to the table as we connect the past, present, and future of the United States Navy.