Just watch this, and in the event that the video doesn't work, just click here.
ABC news has abandoned journalistic neutrality and is trying to stir consumers up with a call for mercantilism. They are telling Americans that evil China is stealing jobs and the patriotic solution is simple and easy. If you know anything about international trade and protectionism, you will see these claims are a xenophobic swill of myths and ignorance.
Apparently, ABC was beating this drum last year, and I'm not the only one who had this reaction. Forbes contributor Dan Ikenson wrote "ABC is selling dangerous, nationalistic propaganda."
If you've read this blog for more than a month, you should recoil from lines like:
So after nearly a year of crisscrossing the country as part of our Made in America journey, we remembered what economists across the board told us at the very start: If every American spent $64 on something made in America, we could create 200,000 jobs right now.
In the four and a half minute video, these activists in journalists clothing referenced unnamed economists several times. They did not show an interview with a single economist or name one. Where do these numbers come from?
After sitting through a barrage of these awful clips, some of which include flag waving and rallies organized by ABC, I finally saw a vague attribution to Moody's Analytics that spending 18 cents a day would create 200,000 jobs. However, I have been unable to find the original source, even on Moody's website.
Since economists across the board reject this protectionist nonsense, I find it hard to believe. ABC has cherry-picked a minor report and used it to overturn economic science, and now they won't even cite the source and dishonestly present it as a scientific consensus. Shame on ABC for committing journalistic negligence and telling these nationalistic lies.