Lou Dobbs Outdoes Himself in his War on Economic Truth

The often pompous and frequently economically wrong-headed Lou Dobbs outdoes himself in this tirade:

http://www.youtube.com/watch?v=zoDb3D7B2Zo

When he hears reporter Christine Romans’ story about economists who favor freer immigration, Dobbs blows up. Steam vents from his ears as he tries to browbeat her into saying he (Dobbs) is smarter than all economists. She’s clearly embarrassed but doesn’t cave in. In fact, she’s prepared with the one good argument to slow down immigration, citing Milton Friedman, that a nation with freely available health care and other generous public benefits attracts the wrong people, people looking for welfare instead of an opportunity to work. But Dobbs’ll have none of it. He bleats out a panicky diatribe against academic “jackasses” who should “run a differential equation” to discover how idiotic they are.

Aside from the emotional bellowing, Dobbs’s theme is still the “war on the middle class.” By which he means that globalization and the increasingly free exchange of goods and services around the globe is an evil conspiracy that hurts the middle class in the US. In Dobbs’s mind, middle-income Americans shouldn’t have to compete with foreigners. Instead they should be protected by tariffs to thwart importers and fences to thwart immigrants from Central and South America who would like to work here.

Instead of lecturing Dobbs on economics, TF economist Gerald Prante takes a more humorous approach with this “letter to Lou Dobbs” from a “competing reporter”:

Dear Mr. Dobbs: I was a local television reporter at a station in Erie, PA, where your show is on at the same time as our local news used to be. Your show is broadcast worldwide thanks to tremendous technological growth over the past 30 years. With that competition, our ratings plummeted, and now we show Judge Judy at 6:00 instead of producing our own local television news. So while you get to serve the masses throughout the world and earn your massive salary, thanks to your show, I am out of work. I must be just another victim of the war on the middle class.

Sincerely, Local Reporter


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