Walmart's 250 Billion Dollar Deception
”Walmart is committing $250 billion to American manufacturing. This will create over 1 million jobs, supporting communities across the country. It’s an investment in the American dream.”
From: http://corporate.walmart.com/americaatwork
The truth is that lower middle class America (USA) is in big trouble. Food is crazy expensive, electric has gone up over 10% and health care costs are ridiculous. Not mention all of the Americans with student loans that cannot be refinanced by law no matter how high your credit is.
Walmart comes to the rescue because they love America. No wait, Walmart wants money, and Walmart wants money more than anything else. There are a lot of smart people running Walmart and they know they can manufacture just about anything for less money in other countries.
The problem is Walmart sees this: “No one will be left with enough money to buy the crap they put on shelves.” The rich and upper middle class don’t shop at Walmart. Factory workers do.
Walmart has 5,280 out of 11,545 locations in the USA. Currently 80% of their manufacturing is in China but 45% of the stores are in the US. 8 cents out every dollar spent in the USA is spent at Walmart. Walmart sells about $485 billion in product per year. Walmart has about a 10% profit margin.
Manufacturing in the USA will cut their profit margin since it will cost more, but it won’t cut their bottom dollar. That money they pump into the economy will come right back to Walmart. When the USA economy booms, so does Walmart. I am sure that Walmart executives are also expecting that high profit on sales will increase if the US economy does. $250 billion dollars sounds like a large percentage of 458 billion - 54% to be exact.
Walmart plans on doing this over the next seven years. That’s around $35 billion per year. If you search around their site a bit, Walmart’s exact plan is: “We are committed to American renewal. By 2023, Walmart has pledged to purchase approximately $250 billion in products that support the creation of American jobs.”
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That doesn’t mean all $250 billion goes to the US only, but that $250 billion will be spent on products that support American jobs. So a $100 bicycle could be made with a 10 cent screw made in the USA and it would still count. This makes it hard to figure out from their literature and available stats on Walmart how much they will actually be pumping into the US economy. It will be more than they are now.
Why? Walmart wants to restore the American economy so they can make a lot of money. (Period)