Delusional NBC, CBS: ‘Sign of Hope,’ ‘Good News’ in Disastrous New Economic News

It’s good news! Good news! You are not? The hacks at NBC/CBS say this is party time. The numbers, however, are as bad as any Joe Biden spinner could have imagined.

You can find more information here CBS Mornings, co-host Nate Burleson conceded the bad news, but led with the tiny decrease in the rate of inflation: “Americans who are struggling to cope with rising costs have a little hope. Last month, the rate of inflation growth slowed down a little, though the annual figure was still close to 40-year highs.”

On CBS, the President was able to shift responsibility. Reporter Carter Evans parroted, “President Biden blamed the war in Ukraine for rising gas prices.” Evans also told viewers that “inflation is now driven by a number of global events.”

On NBC’s Today, co-host Hoda Kotb saw the tiny change as “a sign of hope” for the economy: “New numbers on inflation show it is slowing down slightly. With that sign of hope, we are now live affecting your bottom line.”

Today reporter Tom Costello found the upside, noting a miniscule improvement on the cost of used cars: “However, used car prices did fall slightly. That may be some good news that inflation may have peaked last month.” That was enough for Kotb. She enthused, “A silver lining there, Tom.”

The bad news was acknowledged by CBS and NBC reporters. Evans acknowledged:

Prices for food at home rose more than 10% in April compared to a year earlier. Bacon was up nearly 18% and eggs 22% respectively. The latest figures show that the cost of housing and shelter rose more than 5 percent, despite rising fuel and energy costs. This may not be an accurate estimate.

Costello admitted, “According to the April Consumer Price Index, the inflation rate rose 8.3 percent compared to a year ago. This is a slight improvement over March. [8.5], inflation is still running at 40-year highs.”

But these concessions to reality make the framing of “sign of hope,” “good news” and “glimmer of hope” all the more pathetic, transparent attempts to save the Biden administration from disaster in November.

Surprisingly, Good Morning America on Thursday didn’t try to sugar coat the bad news. Co-host George Stephanopoulos opened the show bluntly: “Recession fears are rising After that new inflation report with key prices still rising, why it could be a sign of trouble ahead for the economy.”

And this exchange showed, it’s possible to try and not spin this for the Biden administration:

MICHAEL STRAHAN – Now to the negative effects of the recent inflation report. While it shows that prices are decreasing slightly, they continue to rise for the goods and services you use everyday. Trevor Ault was at a New York gas station. Trevor, how do prices look?

TREVOR AUT: Michael, they can be worse, but not better.

Regarding the difference between an 8.5 and 8.3 percent inflation rate, Ault schooled his colleagues on NBC and CBS: “This was the first inflation decline actually that we’ve seen in eight months, but this is still near a 40-year high we’re talking about Experts expected a smaller decrease.”

CBS and NBC’s journalists always see the good side when it comes to supporting Democrats. 

Progressive Insurance sponsored the Biden-propaganda on CBS. Citi Bank sponsored the NBC Biden propaganda. To let Citi Bank know your thoughts, click the links.

Here are some partial transcripts. Click “expand” to read more.

CBS Mornings
05/12/2022
Eastern: 7:11

NATE BURLESON Americans facing rising costs may have some hope. While the pace of inflation increased slightly in April, the annual rate was at its highest level for 40 years. Inflation rose 8.3% in April 2021. Prices for food and gasoline are experiencing the largest increases. At almost $4.42 per gallon, this morning’s national average for regular gasoline has reached a record-breaking high. Carter Evans offers more.

(….)

CARTER Evans: Prices for food at home rose more than 10% in April compared to a year earlier, with prices for bacon rising almost 18% and eggs up 22 percent. The latest figures show that the cost of housing and shelter rose more than 5 percent, despite rising fuel and energy costs. Greg McBride, Chief Financial Analyst at Bankrate.com may have misunderstood this.

GREG MCBRIDE, Bankrate.com: It’s likely that any tenant who has renewed a lease recently saw a rent increase of more than 5%.

(….)

EVANS – President Biden blamed Ukraine’s war for the rise in grain prices Wednesday.

JOE BIDEN: Ukraine was the world’s largest producer of wheat and corn.

EVANS: The current inflation cycle is driven by several global factors, and McBride states that the U.S. government has limited ability to stop it.

 MCBRIDE: The Federal Reserve raising interest rates to slow the economy, that will address the demand side. It won’t solve the supply chain. The Federal Reserve won’t broker peaceful co-existence in Eastern Europe. China won’t be able to open its ports. 

————–

NBC’sToday
05/12/2022
Eastern, 7:02 AM

HODA KOTB – We still have a lot of work ahead. This includes another record-breaking day of gas prices rising to $4.42 per gallon overnight. New data on inflation shows that it has been slowing slightly. That new sign is good news for your bottom line.

(….)

KOTB – Inflation is still a source of great pain for millions. Although the inflation rate is slowing down in April, it remains at the highest level for 40 years. This makes many people make difficult decisions about how they pay their bills. Tom Costello is in Washington  with more on this. Good morning.

TOM COSTELLO (Hello, Hoda) Good morning. This report shows how deeply ingrained inflation is in our daily lives. It’s everywhere: at the petrol station, grocery stores, and when we buy airline tickets. Core inflation is still increasing, even though it excludes energy and food. This is putting pressure upon the Federal Reserve and Biden to bring down inflation without causing the economy to fall into recession. Millions of Americans are still struggling to cope with high living costs. There is no solution. The April Consumer Price Index showed that inflation rose by 8.3 percent in comparison to last year. Although this is a slight improvement over March’s, inflation remains at its highest level in 40 years. This means that families spend $450 less per month than they did a year ago. It poses a grave political threat to President Biden’s and Democrats’ chances of winning the midterm elections. Illinois’ President announced new support for farmers, linking the fight to combat inflation with the conflict in Ukraine.

JOE BODEN: America has two fronts. Inflation and rising prices are the main threats. Afar, it is helping Ukrainians protect their democracy.

(….)

COSTELLO, The supply chain crisis continues to worsen with Chinese cities still suffering from COVID and lockdowns. However, prices for used cars did drop slightly. It may also be a good sign that inflation might have been at its peak last month.

 KOTB: A silver lining there, Tom. Many thanks.

————

ABC’s Good Morning America
05/12/2022
Eastern, 7:01 AM

GEORGE STEPHANOPOULOSRecession fears are on the increaseThis new report on inflation shows key price increases are a warning sign for trouble in the future.

(….)

MICHAEL STRAHAN Let’s now look at the implications of the recent inflation report. Although it appears that the trend is slightly decreasing, prices for many goods and services are still rising. Trevor Ault was at a New York gas station. Trevor, how do prices look?

TREVOR AUT: Michael, they can be worse, but not better.Manhattan Mobil charged $6.19 for one gallon regular. That’s the same price it paid yesterday. This is still an incredible record and when you look at the big picture, gasoline prices have increased by 46.9 per cent since last year’s pandemic. The new inflation report revealed that overall prices were up 8.3 percent in comparison to last year. It is an improvement on the 8.3 percent inflation reported last month, when they were at 8.5 percent. It was actually the first inflation decline we have seen in eight years, but it’s still close to a high of 40 percent. Experts expected a lesser decrease. Shelter and rent prices, new cars, and food are the most important areas that have an impact on a large number of people. Groceries have seen a 10.8 percent increase in price over the past year. This is something that everyone notices. Chicken is up almost 23% and eggs up about 23% respectively. Nearly 15% of milk is increasing. Although this indicates we might have hit inflation’s peak, there is still concern as food and energy prices continue to increase. Robin.