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Subject:The Apocalyptic Centrism of Lou Dobbs



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Here is a pro-Dobbs e-mail, representative of quite few I’ve gotten:

Mr. Lowry:

Say what you want about Lou. He can defend himself. The purpose of this email is to clarify and correct you on a few points you made in this article. The statement regarding the economy is just untrue. Consider the facts:

  1. 4.5 % unemployment: Why did the BLS mysteriously add 810,000 to the job rolls in March, 2006? Figures lie, and liars figure. Don’t believe for one minute that the government figures are accurate. Most of the government agencies can’t even account for the expenditures they made. Why in hell would you take this figure to the bank?
  2. National debt: This administration will double the national debt to a projected 10+ trillion dollars. This is a dirty little secret that they won’t talk about.
  3. Record trade deficits: A very unhealthy trend in our country. Manufacturing jobs are being sucked out of our country at an alarming rate. Countries like China aren’t playing fairly. Our Treasury Secretary is with several other monetary policy makers in China this very day to negotiate a more fair trade policy. China drags its heels.
  4. Housing: A record number of foreclosures and bankruptcies due to a high interest rate caused by oil. Yes, oil which affected everything from soup to nuts. The root cause of our inflation is oil. Housing refi’s account for a significant amount of GDP. GDP will be lower in 2007. The White House admitted a slowing economy for 2007.
  5. Slumping auto market: 2007 will not be a robust year for the auto market. This is as a result of the slumping housing market.
  6. Record number of corporate bankruptcies: Look at Delphi, Dana, Dura, Collins & Aikman, Federal Mogul, and the list goes on. Look at the number of companies who are fighting to stay alive…..GM, Ford and the list goes on. :Look at the number of under funded pensions.   

This isn’t a sizzling economy….rather it is an economy that could collapse just as it did in 1929. It is an economy that has weathered several storms…and I might say the best in the world. However, it is an economy that is under siege by greed, as well as a lack of morals with our corporate boardrooms.

Please don’t generalize with Pollyanna comments such as the stock market being at an all time high. Stock markets can collapse pretty damn fast if policy makers and corporate giants ignore the fundamentals. Fact is this is an economy that is facing bankruptcy itself. Look at the facts above.

UPDATE:

E-mail:

Rich:

Regarding the e-mail you posted on the Corner, just so we’re clear.

  • Don’t believe the hype about the economy because the governments use figures to lie. But do believe the White House when they say that 2007 will have a “slowing economy.”
  • Oil also causes single-parent families, Nintendo Wii shortages and spikes in the price of frozen, concentrated orange juice.
  • Interesting theory. Odd, though, that I’m writing you from the bank at which I’m employed—check the e-mail address. I work with mortgage loans and figures eight hours a day, five days a week. The “theory” that (sneer quotes intentional) either (a) interest rates are comparatively high or (b) oil causes mortgage interest rates to skyrocket is, well, too Dobbsian to require serious dialogue.

One cannot dismiss the entire field of economics to take absurd political potshots. Or, better yet, as Thomas Sowell reminds us, “Reality isn’t optional.”



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