11 December, 2021

CNN Runs Propaganda Piece on Inflation

CNN Story Says ‘Inflation Can Actually Be Good For Everyday Americans.’ Here’s What CNN Published Two Weeks Ago. | The Daily Wire

CNN is running some serious spin here for the Democrats. Try to imagine them saying the same thing if the Republicans were in charge.

CNN posted an article on its website Wednesday titled “Why inflation can actually be good for everyday Americans and bad for rich people” by CNN senior editor and business writer Allison Morrow. “[O]n the whole,” she writes, “many working-class Americans” will benefit from rising prices caused by the devaluing of the U.S. dollar, “especially those with fixed-rate debt like a 30-year mortgage.”

There’s a lot of nonsense in the piece about wages catching up to inflation, and being able to benefit if you have a fixed rate mortgage, etc. The problem is that there’s a long lag between wages catching up, and sure being able to benefit on the mortgage is nice, but doesn’t help me buy groceries.

Also, it’s stupid to say that this helps the lower or middle classes more, because it’s the affluent who are most likely to benefit from mortgage wins.

Here’s what’s been said about inflation n the past, including by CNN:

Traditionally, economists have called inflation “the cruelest tax,” because it hurts the poor, minorities, and people on a fixed income the worst. CNN has reported this fundamental economic principle numerous times, as recently as two weeks ago.

  • On November 17, CNN published an article titled “The Americans who are getting the worst of the surge in inflation.” which stated that inflation-drive price hikes “disproportionately harm low-income, [b]lack and brown families. If left unaddressed, escalating food costs will not only make it difficult for these families to put holiday meals on the table; such costs will significantly exacerbate longstanding inequities in hunger and nutrition”;
  • In July, a CNN headline stated, “Inflation will hurt low-income Americans for years to come.” Its author, Dana Peterson, wrote that “lower-income families and retirees on fixed incomes will especially feel their buying power erode — not just in the short-term, but for many years to come, further widening the nation’s wealth gap”; and
  • In a May article on CNN.com titled “Everything is getting more expensive. That’s especially bad news for low-income Americans,” Anneken Tappe and Nathaniel Meyersohn wrote, “The inflation spike … has been harder for those at the bottom of the income ladder.”

This was all before they realized how much inflation is hurting the Democrats. CNN can’t have that. Have to run protection for the party of choice.

Why people hate the news media.

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