As Inflation SKYROCKETS, Nets Finally Voice Skepticism About ‘Putin Price Hike’ Excuse

They do all they can to shield the failing Joe Biden government from the fury of an angry public. Even NBC, CBS, and ABC seem to acknowledge the dire economic realities that are sweeping the United States. As inflation hit its highest levels in 40 years, the networks on Tuesday voiced a skeptical tone to the idea this is all be cause of “Putin’s price hike.” 

ABC and NBC discussed even the dreaded R word: Recession. Good Morning America co-host Robin Roberts wondered, “There are many people who worry about the possibility of a recession. Are we facing a recession??” On Today, senior economics reporter Steve Liesman warned, “There’s definitely the elevated probability of a recession right now.” 

Check out the previews of the numbers GMA, chief economics advisor Rebecca Jarvis scoffed at the Biden talking points: “That is the highest increase since 1981 and This is what the White House calls Putin’s price increase. This is an extremely difficult argument to make, considering that the prices have been rising since last spring..” 

Jarvis didn’t hide the economic nightmare: “Domestic travel up 20 percent from pre-pandemic levels and Moody’s estimating that American households are now paying $1300 more than they were a year ago on their energy costs.”

 

 

CBS Mornings played a clip of White House Press Secretary Jen Psaki insisting, “Extraordinarily elevated due to Putin’s price hike.” Reporter Ed O’Keefe debunked: 

White House claims that prices are rising due to Putin’s increase in the price of oil. Remember that prices have been rising since before the conflict in Ukraine.CBS News polls reveal that 70% of Americans are dissatisfied with Biden’s inflation management. Sixty six percent feel that the increased prices were difficult or prohibitive.

CBS remains in the talking point game, though. The morning show began with a direct parroting of the excuse-making: “Startling new inflation numbers out today. Why the White House says world events are the culprit.” 
 
On NBC’s Today, Tom Costello explained, “The White House blaming much of this on Vladimir Putin’s war on Ukraine. Inflation has been hot since months. The Russian invasion has had some impact on food and oil prices, but also the global supply chain crisis is still ongoing, with parts of China back, of course, in COVID lockdown.” 

Journalists always come back to the main topic of protecting Democrats. You can read the The 3rd hour of the Today, Tom Llamas wondered if anything can be done in “six months.” 

TOM LLAMAS, So Tom. I mean, we’ve gotten a little bit of relief when it comes to gas, I’d argue minimal. We will get some help with inflation over the next six month, but I doubt it.  

TOM COSTELLO: It’s all going to be – at the moment, it’s going to be about the Fed and whether their efforts to slow the economy help. You are now paying more to borrow money. Credit cards are used by companies to obtain money for expansion. It is hoped that the economy will slow down if this slows.

It takes six months to get us to the midterm election in 2022. As O’Keefe on CBS put it: “We should point out election day just 209 days away.” Clearly, panic is setting in. 

(In March of this year, most evening and morning networks placed the blame on Putin for the high prices. Check out my study. 

Below are transcripts. Click “expand” to read more: 

CBS Mornings
4/12/2022

TONY DOKOUPIL: New inflation figures out now. What the White House believes is the cause of world events.

JEN PSAKI: Extraordinarily elevated due to Putin’s price hike.

7.08 am ET 

DOKOUPIL:  Back in this country the Labor Department is expected to release new inflation numbers this morning ,but don’t count on any good news. It is expected that the Consumer Price Index report will show that inflation has continued at its highest point in over 40 years, going back to 1981. Ed O’Keefe provides more details this morning. The heads of economists are turning. This morning, some very high numbers are predicted.

ED O’KEEFE: That’s right. Here at the White House, aides are warning they’re going to be, quote, “extraordinarily elevated.” Remember, these numbers are going to count for March, the first full month since the war in Ukraine began and prices started spiking. According to the White House, prices have risen due to the conflict and Putin’s recent price rise. Remember that prices have been rising since before the conflict in Ukraine. CBS News polls indicate that 70 percent Americans don’t approve of Biden’s handling inflation. Sixty-six percent of Americans say that higher prices are difficult to manage or have caused hardship.

As the President travels to Iowa, the White House will likely announce a new effort to lower gas prices. The EPA is going to allow the sale of a special gas blend, that is fuel mixed  with 15% of ethanol. It’s known as E-15 and isn’t normally sold during warmer months because of concerns of high gas emissions. But it will be a really big deal in Iowa, of course the nation’s largest ethanol producing state. This year, the President will be visiting a district in which they have one of their most competitive congressional elections. Cindy Axne is a Democratic candidate in a hard fight. It is only 209 days until election day. Tony? 

Good Morning America
4/12/2022
7:07 AM ET 

ROBIN ROBERTS: We’re going to turn now to the new inflation numbers. Americans are feeling the pinch on food, rent, and flight prices. Rebecca Jarvis, chief economist correspondent for the United States Economic Association, breaks it down. She also explains when relief can be expected. Good morning, Rebecca. 

REBECCA JAVIS: Robin, good morning. The prices are rising quickly. We are anticipating a record-setting report that will show that March saw prices rise eight and a quarter percent from last year. It is the biggest increase since 1981. To get ahead of it, the White House calls this Putin’s Price Hike. This is an extremely difficult argument to make, considering the fact that prices are on the rise since last spring. This is a broad statement. Adobe Analytics has new data that now shows how food costs have increased by nine percent over a previous year. Domestic travel has increased by 20 percent since pre-pandemic, and Moody’s estimates that American households now pay $1300 more for their energy bills than they did a year ago. The bright spot is that economists believe that this is the tipping point, that inflation is at its peak. UBS and Wells Fargo suggest Robin that prices will stabilize or even fall slowly from now on. 

ROBERTS – But Rebecca, there are many people who worry about a potential recession. What do you think? 

JARVIS – This new concern is the result of what we’ve seen. We have a strong job market here. 3.6 percent  unemployment. These are historic lows and many job openings exist for job seekers. Robin says that prices have risen and are eating into pay packets. Robin believes that this is possible. 

 

Today
04/12/22
8.02 am

(…)

TOM COSTELLO – So the White House is bracing itself for some bad news as the Consumer Price Index figures out today show that the White House has been preparing for more negative developments. Expected to reveal that consumers are spending more on goods and services. We’re already seeing inflation at 40-years highs. Analysts expect this morning’s numbers will show it’s gotten even worse, maybe running at 8.4% on the inflation rate.

The White House blaming much of this on Vladimir Putin’s war on Ukraine. However, inflation has been on the rise for many months. While the Russian invasion had an impact on oil and food prices, there is still a global supply chain crisis. Parts of China are back in COVID lockdown.

The 3rd hour of the Today
04/12/22
9:00 AM

(…)

TOM LLAMAS. I mean, we’ve gotten a little bit of relief when it comes to gas, I’d argue minimal. We will get some help with inflation over the next six month, according to my guess.  

TOM COSTELLO: It’s all going to be – at the moment, it’s going to be about the Fed and whether their efforts to slow the economy help. You are now paying more to borrow money. Credit cards are used by companies to obtain money for expansion. It is hoped that the economy will slow down if this slows.

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