Reuters Fumbles Story about Pickups

February 6, 2019

https://www.fidelity.com/news/article/top-news/201902050800RTRSNEWSCOMBINED_L1N1ZW1LR_1

Reuters, a global publication that often passes itself off as the expert on all matters related to trade perhaps figured that it could just pick any pickup truck at random for a story about how American automakers and workers are relying ever more heavily on sales of big pickup trucks.

Mickey McMaster is on his 12th pickup truck.

The 61-year old farm equipment dealer in Decatur, Texas, two weeks ago treated himself to a 2019 GMC Denali for around $69,000 – a reward for long hours at work.

“For me this is the Cadillac of trucks, it’s a real luxury vehicle,” McMaster said. “I’ve worked my way up to afford a truck like this and it shows that I’ve earned it.”

McMaster is the kind of customer General Motors Co ( GM ) is banking on as it plans to add 1,000 jobs at a plant in Flint, Michigan that will build a new generation of its largest pickups.

Just one problem.  The 4-door crew cab Denali that Mr. McMaster bought is built in Mexico, not at GM’s Flint plant.  Though most of GM’s pickups are built at Flint, the biggest and most expensive 4-door crew cab versions (both the GMC Denali and the Chevy Silverado) are built at GM’s plant in Silao, Mexico.  The Dodge Ram pickup trucks referenced later in the article are built at Fiat-Chrysler’s plant in Saltillo, Mexico, though FC recently announced it will move production to its plant in Warren, Michigan.

I wonder if Mr. McMaster even knows that his truck was built in Mexico?  If not, I wonder how he feels now that he does know?  If he was proud of buying American, does he now feel betrayed by GM?

That might be a more interesting story for Reuters to pursue – how Americans who think they are buying American are being duped into buying Mexican imports.

 

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You Heard It Here First – 2nd Qtr. GDP Stoked by Stimulus Spending

August 24, 2010

http://www.reuters.com/article/economicNews/idUSN2426976220100824

Forgive me for taking a moment to toot my own horn but, in the Reuters article for which I’ve provided a link above, Reuters has finally taken note of the same thing I reported on August 5th – that 2nd quarter GDP was propped up by enormous stimulus spending, without which the economy may very well have sunk back into recession.  (See https://petemurphy.wordpress.com/2010/08/05/shocking-2nd-quarter-gdp-report-points-to-further-recession/)

The real story here is that, with stimulus spending ebbing fast, the economy is in very serious trouble, a point that each new economic report seems to be driving home.  And with each passing day, the Obama administration seems increasingly delusional in its belief that the economy is slowly on the mend.  No wonder that Obama supporters are rapidly losing faith.  Just as sadly, Republicans seem just as clueless about the need to fix broken trade policy.  Batten down the hatches.  We’re in for a hell of a storm!