Monday morning saw the news that the Biden administration is trying to change the definition of a “recession.” It seems as though CBS MorningsMonday saw a leap in official government talks points. Ramy Inocencio reported on the upside of inflation, high gasoline prices and a struggling economic system: Europeans can get cheap gelatos, croissants and espressos.
Yes, really. That’s what the liberal press has been reduced to. Inocencio cheered just how far an American dollar now gets you vs. the euro: “Since 2000, the Euro has been a lot stronger than the U.S. Dollar. One dollar is now about the same as one euro. Which means in Paris your morning croissant and espresso for €3.50 would cost you $3.50.”
He added, “Last year, you would have paid a buck more. In Rome, your double scoop gelato for €5, yes, will run you $5. Last year, $6.50 to stay cool in the heat.” Is that not enough to make you think everything’s okay? You might even consider making your life easier! Harry PotterTheater tickets “And here in London’s west end, a ticket to Harry Potter costs an average £85. It costs an average PS85 at $110. This year, about $100.”
Inocencio broadcast live from London, and interviewed tourists. Sounding like a Biden PR official, he declared, “Welcome to Oxford Street. This is London’s best-known shopping area and Europe’s largest. The U.S. dollar is now about 15 percent stronger than the British pound and the Euro in the past year.”
Eventually, the journalist got around to the obvious bad news: It’s really expensive to get to Europe:
You must first get to Europe to be certain. Higher fuel costs are driving up air fares. For example, prices between New York City and Paris have more than tripled in March 2019, while average European hotel prices are up 44% in the last year. The most popular destinations in Europe cost upwards of $250 per night.
Considering the possibility that the economy could stay sour for a while, Inocencio offered this baffling conclusion: “That means you have time to buy tickets to get over here. Sure, they are more expensive than normal, but we’ve met a hot of Americans who already have.”
You can save as much as $1.50 by spending hundreds or thousands more on your trip to Europe. This is Biden-era journalism.
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Below is a transcript. Click “expand” to read more.
CBS Mornings
7/25/2022
7:14VLAD DUTHIERS – Gas prices have dropped after reaching a new record high of $5.02 in June. Six weeks later the average price for regular gas is $4.36. While this price is high, it isn’t the only thing that helps travelers. The dollar has been stronger than the euro in the past two decades if you’re heading to Europe. Ramy Inocencio has shown us that it may be a great time to travel internationally.
RAMY INOCENCIO – Welcome to Oxford Street. This is London’s best-known shopping strip and Europe’s largest. In the last year, the U.S. Dollar has been about 15% stronger than both the British Pound and the Euro. As many Americans, Katherine and Bruce, both retired from Detroit, are now on a European tour.
KATHERINE – Still looking at bags, scarves. A small piece of jewellery maybe?
BRUCE – It is nice to be going to Paris after the Euro crashes.
EMMA HASLETT: The best time is now to travel to Europe.
INOCENCIO: Emma Haslett is a business journalist at the UK’s New Statesman.
HASLETT – It is cheaper to purchase stuff here. If you are planning to visit the UK, there is no better place to eat than our incredible restaurants. We also have an entire hospitality industry that has been destroyed by the pandemic. They would love to have you come.
INOCENCIO is like recent U.S. High School Grads Olivia and Valentino in Los Angeles.
OLIVIA : It’s the ideal time right now to travel to Europe.
VALENTINO We’re really enjoying our time here.
INOCENCIO – The euro is not as weak as the U.S. Dollar in over two decades. Today, $1 is almost equal to one euro. Which means in Paris your morning croissant and espresso for €3.50 would cost you $3.50. You would have spent a dollar more last year. In Rome, your double scoop gelato for €5, yes, will run you $5. It cost $6.50 last year to keep cool during the heat.
A ticket to Harry Potter is 85 Pounds in London’s West End. That was $110 last year. About $100. It is essential that you get to Europe before anything else. Higher fuel costs are driving up air fares. For example, prices between New York City and Paris have more than tripled in March 2019, while average European hotel prices are up 44% in the last year. The most popular destinations in Europe cost upwards of $250 per night. If you are unable to escape the city, there is always next time.
INOCENCIO – What’s the outlook for the British Pound and the Euro?
HASLETT – Some say it will hold steady. Others say it will drop.
INOCENCIO: Almost as if you’re saying one man’s misery is another’s happiness.
HASLETT: Yeah, absolutely.
INOCENCIO – This means that you still have the time to purchase tickets for your trip to Italy. They are more costly than usual, but there have been many Americans who bought them. Ramy Inocencio, CBS News, London.
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