Monday morning saw the news that the Biden administration is trying to change the definition of a “recession.” It seems as though CBS Mornings on Monday got a jump on the official government talking points. Reporter Ramy Inocencio focused on the upside to inflation, high gas prices, and a struggling economy: Cheap gelatos, croissants, and espressos over in Europe.
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: “The euro hasn't been this weak against the U.S. dollar in two decades. Now $1 just about equals 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? How about cheaper Harry Potter theater tickets? “And here in London's west end, a ticket to Harry Potter costs an average £85. This time last year, that was about $110. This year, about $100.”
Inocencio reported live from London and interviewed tourists. Sounding like a Biden PR official, he declared, “Welcome to Oxford Street. This is London's most famous shopping street and Europe's biggest. 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:
To be sure, you have to get to Europe first. And air fares are soaring because of higher fuel costs. Prices between New York and Paris, for example, have tripled since March, 2019, and average hotel prices in Europe are up 44 percent in the past year. Some of Europe's hottest destinations pushing $250 a 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.”
So, spend hundreds (or thousands) more to get to Europe and save $1.50 on Gelato? This is Biden-era journalism.
The Biden propaganda on CBS was sponsored by Progressive insurance. Click on the link to let them know what you think.
A transcript is below. Click “expand” to read more.
CBS Mornings
7/25/2022
7:14VLAD DUTHIERS: Drivers nationwide may have noticed gas prices are dropping after hitting a record of $5.02 back in June. Six weeks later, the average is $4.36 for a gallon of regular. That is, of course, still very high, but it's not the only thing that is helping travelers. If you are headed to Europe, the dollar is now the strongest it's been against the euro for two decades. As Ramy Inocencio shows us, that means it might be a good time to travel overseas.
RAMY INOCENCIO: Welcome to Oxford Street. This is London's most famous shopping street and Europe's biggest. The U.S. dollar is now about 15 percent stronger than the British pound and the Euro in the past year. Like many U.S. tourists, retirees Katherine and Bruce from Detroit are on a European tour.
KATHERINE: Still looking at bags and scarves. Maybe a little tiny modest piece of jewelry.
BRUCE: The fact that we're going to Paris next is nice in that the Euro has crashed.
EMMA HASLETT (New Statesman): Now is the best time to come to Europe.
INOCENCIO: Emma Haslett is a business journalist at the UK’s New Statesman.
HASLETT: It's just cheaper to buy stuff over here. So if you're going to come to the UK, you can visit our amazing restaurants, and we have a hospitality sector that was destroyed by the pandemic. They are desperate to welcome you in.
INOCENCIO: Like recent U.S. High school grads Olivia and Valentino from Los Angeles.
OLIVIA: Right now it's the perfect opportunity to go to Europe.
VALENTINO: We expected prices to be a lot higher, and they were quite a bit lower. So we're having a really good time out here.
INOCENCIO: The euro hasn't been this weak against the U.S. dollar in two decades. Now $1 just about equals one euro. Which means in Paris your morning croissant and espresso for €3.50 would cost you $3.50. 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.
And here in London's west end, a ticket to Harry Potter costs an average 85 pounds. This time last year, that was about $110. This year, about $100. To be sure, you have to get to Europe first. And air fares are soaring because of higher fuel costs. Prices between New York and Paris, for example, have tripled since March, 2019, and average hotel prices in Europe are up 44 percent in the past year. Some of Europe's hottest destinations pushing $250 a night. But if you can't get away just yet, you have time.
INOCENCIO: For the British pound and the euro, what's the forecast?
HASLETT: Some people are saying it's going to hold steady. But others are saying it's really going to drop.
INOCENCIO: Almost as if you're saying one man's misery is another's happiness.
HASLETT: Yeah, absolutely.
INOCENCIO: And 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. Ramy Inocencio, CBS News, London.
