‘I Don’t Need Lessons in Economics’: Fox Business’ Gasparino and Dobbs Get in Heated Clash on Economy

Fox Business’ Charles Gasparino and Lou Dobbs threw down during a discussion this afternoon on coronavirus and the concerns about economic impact, particularly with respect to the trade deal with China.

Gasparino said, “I think part of his, do we really want to torch them economically? Is a bad for us long term? At some point, we need China to have a decent economy so they continue to buy our stuff. So do we give them a break on this? There should be some wiggle room in this and I think that’s why you see what’s going on in the White House.”

After a light back and forth with Dobbs, things got a bit more serious as Dobbs invited Gasparino to “look at the deficit numbers over the course of 50 years.”

“Does trade impact GDP, Lou? Did I miss that economic lesson?” Gasparino asked.

They started to argue and Gasparino said, “I don’t need lessons in economics.”

At one point David Asman tried to “pull out of the weeds” but Dobbs wanted to keep going, telling Gasparino, “When you have a trade deficit, it reduces national savings.”

“Sometimes,” Gasparino said.

“No, it always does,” Dobbs shot back.

“You also have people making more money buying stuff from overseas,” Gasparino said.

Dobbs got visibly exasperated, asked to finish again, and sarcastically remarked, “I don’t want to impose with rationality and knowledge.”

“As the national savings rates declines, that reduces GDP and therefore, a deficit is to be avoided,” Dobbs continued.

“When people are working,” Gasparino countered, “they spend more money and they buy stuff from overseas. Thus it hurts the trade deficit.”

“Your anecdotal fantasyland is not a substitute…” Dobbs started.

“That’s what happens!” Gasparino said. “It’s happening right now!”

You can watch above, via Fox Business Netowrk.