General Motors may be closing down dealerships and plants and laying off thousands of U.S. autoworkers, but, according to David Shepardson of the Detroit News, the newly socialized automaker is planning to build more vehicles in China, Mexico, South Korea and Japan, and then ship them to the U.S. to sell to American consumers.In a confidential 12-page presentation to members of Congress, obtained by The Detroit News on Friday, GM said it will boost U.S. sales of vehicles built in those four countries by 98 percent -- or about 365,000 vehicles -- while shrinking production in Canada, Australia and European countries by about 130,000 vehicles.
The made-in-China vehicles will start arriving in 2011.
Canadian, Australian, Swedish, and Austrian autoworkers won't be the only ones out of work. By the end of next year, GM will be closing 13 of its 47 U.S. plants and getting rid of 21,000 hourly workers "as part of a tougher recovery plan sought by President Obama's auto task force." GM is about to start closing 50% of its U.S. dealerships.
So far, GM owes the U.S. Treasury $15.4 billion in loans made "save the U.S. auto industry."
Of course, the U.S. Treasury in turn owes enormous amounts to China, Japan, Mexico, and South Korea: $744 billion to China, $661 billion to Japan, $40 billion to Mexico, and $33 billion to South Korea. China and Japan are this country's biggest creditors.
Canada, Sweden, Australia, and Austria are much less heavily invested in the U.S. Treasury. We owe Sweden about $13 billion, Canada about $11 billion, and Australia and Austria lesser amounts.
It just forgot to mention that Obama the job-creation jumpstart is happening in China, Japan, South Korea, and Mexico.
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