(Editor’s Note: Since this article was published yesterday for subscribers, Mr. Brecher has published a big follow-up which we post below after this article.)

I’ve been saying for a long time that aircraft carriers are just history’s most expensive floating targets, and that they were doomed.

But now I can tell you exactly how they’re going to die. I’ve just read one of the most shocking stories in years. It comes from the US Naval Institute, not exactly an alarmist or anti-Navy source. And what it says is that the US carrier group is scrap metal. (more…)