The dismal news of a skyrocketing CPI, inflation, and a stock market crash is the result of a “recovery”, per a Telemundo report where the anchors avoided calling out the Biden Administration’s disastrous handling of the economy.
The report used on-screen graphics from the Bureau of Labor Statistics, released on May 12, 2021, showing that the April CPI rose 0.8% from the previous month. Nothing, however, was said about the alarming increase- from .3% in January to April’s .8% happening AFTER Biden became president, versus “due to the pandemic”, as they would have their audiences believe.
Watch as anchors Aranxta Loizaga and Nacho Lozano dish out the bad news nonchalantly, and bring on an economist to tell the viewers to safeguard their money- in other words, deal with it:
ARANXTA LOIZAGA: Let's talk about prices, not just at the gas pump but also for products. The effects of the recovery have also begun to be felt in people's pockets throughout the country
NACHO LOZANO: And the consequences, of course, after inflation increased at its fastest pace in twelve years for the month of April. The consumer price index also soars, which is especially noticeable in basic foodstuffs.
ERIKA FLORES: The consumer price index, which measures variations in the costs of goods, including food, rose 0.8% from the previous month, and 4.2 percent from April of last year. The biggest rise in consumer prices since September 2008 was recorded in April. And, according to experts, leveling demand for supply could take a few months, so it is crucial to follow some advice.
MANUEL RAMOS: We must safeguard the money
ARANXTA: Important to emphasize Nacho, that this sharp price increase destabilized the Wall Street stock market, which dropped two percent.
LOZANO: It was one of the worst days so far this 2021, besides, of course, being the worst performance since January.
ARANXTA: Never mind that prices went up but the salary at the federal level has stayed the same.
Loizaga opens the segment by stating that, “The effects of the recovery have also begun to be felt in people's pockets throughout the country”. Which recovery is she talking about? Sky-high unemployment, sharp price upsurges, inflation increasing at its fastest pace in twelve years, a destabilized stock market – all point to the radical opposite of a recovery that would put money inside people's pockets instead of pinching them.
That Telemundo – NBC´ sister station for the Hispanic market – spent nearly 3 minutes dancing around an issue of significant impact to their audience´s economic well being, even telling viewers to “stretch” their money, and only “buy those things that are really needed”, is an insult to their intelligence.
Furthermore, not to mention Biden's role in the tanking of the U.S. economy, but finding time to advocate for a federal wage increase, speaks volumes of the network's role as a Public Relations arm for the White House.
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Press on expand to read the complete transcript of the above mentioned report as it aired on Telemundo's Hoy Día, on May 13, 2021:
ARANXTA LOIZAGA: Let's talk about prices, not just those of gasoline, but also in products. The effects of recovery have also begun to be felt in people's pockets here in the country
NACHO LOZANO: And the consequences, of course, after inflation increased its pace faster in twelve years. For the month of April, the consumer price index also soars, which is especially noticeable in basic foodstuffs. Erika Flores has more.
ERIKA FLORES: César Sandoval, with a family of six, says he has felt the impact on his pocket with recent increases in the prices of certain products.
CESAR SANDOVAL: Basic food such as eggs, tortillas, the chicken, bread
FLORES: He says that now the monthly disbursement for his diet has increased considerably.
SANDOVAL: Yesterday it was a bill of about $800, now it's more than a thousand dollars, and more with a family.
FLORES: The consumer price index, which measures variations in the costs of goods including
food rose 0.8% from the previous month and 4.2% from April last year. Grocery prices have been rising since pandemic closures last spring. In some metropolitan areas, increases are even higher than the national average. According to monthly commodity monitoring, a pound of bacon increased by 5.5 percent in areas such as Atlanta, Miami and West Palm Beach. Chicken breasts rose more than 6% in Los Angeles, Miami and West Palm Beach, and about 5% in Dallas, where it rose nearly twelve percent compared to a year ago.
MANUEL RAMOS: Supply, inventories, is very low, demand is very high and that causes the pricing system to be distorted. That is, prices are starting to rise in all sectors of the economy.
FLORES: The biggest increase in consumer prices was recorded in April, from September 2008 and, according to experts, leveling demand for supply could last a few months, so it is crucial to follow some advice.
RAMOS: We must safeguard the money, in the sense of stretching it, right?, A, how much I'm going to spend, how much I really have available, rely less on loans, and above all, buy those things that are really needed.
FLORES: In Los Angeles, Erika Flores, Today, Telemundo News.
LOIZAGA: It´s important to emphasize Nacho, that this sharp price increase destabilized the Wall Street stock market that plummeted to no less than two percent yesterday.
LOZANO: It was one of the worst days so far this 2021, in addition of course, to the worst performance since January, and there is expectation to see how the indexes at the end of the day- we will be on the lookout this afternoon.
LOIZAGA: Of course, it's okay to say that prices go up but the salary at the federal level has stayed the same.