There is no recession of laughter in grand Dame Edna’s new show, “Dame Edna: My First Last Tour.”

Dr. Barry Humphries’ alter ego is in fine form with her in-your-face insults and spontaneous, irreverent humor. Her raucous brand of “stage rage” shines as she badgers a select few audience members and improvises her zingers. I am sure those patrons in the first few rows are thinking, “Don’t choose me” as they ask, “How many did she trample to get to the top?”

But the jokes at their expense provide so much laughter, that they become enabling co-stars. The show celebrates 50 years of Humphries’ Dame Edna’s life in show biz. Modestly, Dame Edna says, “They drink at my fountain and worship at my shrine.” Who else but Dame Edna could get laughter out of our present economy? This icon is universal and recession proof.

I last saw Dame Edna Everage at the Ahmanson in 2005 when she did her Tony Award-winning Broadway show, “Back With A Vengeance.” Could she get better? Yes. Edna has honed her act, sharpened her wit and her tongue. Don’t let the rhinestone spectacles; the purple wig and glitzy gown fool you. This “lady is a tramp” and her humor is lethal and hilarious.

Her act opens with a clever and outrageously funny montage of clips and stills which show how Dame Edna evolved into the stage bitch she is. There are images of Baby Edna with baby “Edna glasses,” sepia toned photos of her growing up, marrying Norm Everage, the Electrolux salesman who succumbed to a “prostate murmur,” and footage showing how Dame Edna was brought to fame through “failed actor Barry Humphries.” The video serves as an hors de’ oeuvres to a wonderful smorgasbord and leads into Dame Edna’s opening song. Andrew Ross is the accompanist and creator of special material.

On opening night, Dame Edna marveled that the house was full at this “little theater” despite that it was a Wednesday night, downtown, in “Los Angeleez,” and in the middle of a recession. She tosses her “gladdies” (her signature flower is the gladiola) to the audience and looks up to the balcony and welcomes the “downpour of disadvantaged” which she notes is flooded with hedge fund managers, bankers and friends of Bernie. “Hello Paupers.”

Nothing is sacred as she tells of the disciples who “flashed their fishnets” at Jesus. After all, “the Gospels were the Harry Potter books of their day.” Edna — self-proclaimed psychic, self-helper to the stars and talk show hostess — selects five audience members to pick on or as she calls it, “to empower” them with her brand of tough love. This part of the show is improvised and we can see what Dame Edna does best.

Linda looks lonely and must be single. Psychic, Dame Edna is not thrown when Linda says she has a husband. “Well, dear, a husband is a form of loneliness isn’t he?” She singles out another woman and remarks that she looks like she has dressed for a “special occasion” — not this one. Her outfit may be more suitable for cleaning out the garage. Dame Edna spies an 11-year-old girl whose name is “Milan.” They are naming children after Italian cities. “Is there anyone named Bologna” here?”

No one is spared. Dame Edna has given great advice to former President G. W. Bush who could not find “Overseas” in the Atlas she had given him, Queen Elizabeth “whose marvelous sense of humor unfortunately does not show on the coins,” and Michelle Obama. She shares her views on motherhood with other show biz mothers as Joan Crawford, Debbie Reynolds and Joan Rivers. In this segment Edna is aided and abetted by Erin-Kate Whitcomb who plays her daughter Valmai. In contrast to the over the top bejeweled Dame Edna, Valmai makes her dramatic entrance in a special outfit. This has to be a surprise so I am not describing it. Edna gets a lot of mileage out of her dysfunctional daughter who gave her morning sickness, “just this morning.”

Edna sings a delightful song dedicated to her favorite son Kenny who designs her frocks, (costumes are by John Van Gastel and Stephen Adnitt) is a stewardess, and dabbles in antiques, if you get her drift, and invites the audience to join in singing “Friends of Kenny,” the “man’s man.”

The five audience members are invited up for an impromptu “talk show” televised pilot as a white couch and chair are wheeled on-stage. Dame Edna duels with the intelligentsia of Beverly Hills. How could one not know if she has an “attached” or “detached” house? Everyone is a good sport. And, no one knows what will come out of Edna’s dark red lips, even Edna herself.

The show ends on a high note. Dame Edna closes with her “trembling gladdies” and tosses gladiolas to the “possums” as she calls her adoring fans. After thunderous applause, Edna leaves the stage and again we see a video clip of her backstage in her white fur trimmed wrap. As she exits, a man in a dark suit and fedora comes on stage. Barry Humphries, the “man behind the little woman” gets to bask in the applause as he gets a well deserved standing ovation for his two hour non-stop show.

I hope all the “possums” and “paupers” get to see the show. There is nothing like a good laugh during hard times.

Linden is a freelance writer who teaches On Camera and Improv at BHAS in Beverly Hills. “Dame Edna: My First Last Tour” is at the Ahmanson Theatre, 135 N. Grand, Los Angeles through June 21 For tickets and showtimes call (213) 972-4400.