by Jack Hellner
American Thinker
Goldman, and most other investment advisors, along with almost all media outlets, seemed to have no idea that completely reversing Biden’s energy policies would lower prices. From an article at Zero Hedge:
Goldman Unexpectedly Finds Signs Of Life In Working-Poor Consumer
[Analyst] McShane and her team found was that ‘the health of the lower-income consumer (defined as households that earn <$30K annually) is indeed mixed but skew more positive than expected, with possible tailwind coming from lower gasoline prices, improved employment trends, and credit metrics.’
While consumer confidence remains mixed and discretionary spending cautious, President Trump’s pro-fossil fuel agenda—centered around policies like ‘drill, baby, drill’—has contributed to a drop in gas prices (Memorial Day Weekend gas prices were the lowest in years).
They say that the lower gas prices, due to the policy changes, have unexpectedly helped those at the bottom. How the heck could that be unexpected? Energy prices affect everyone, but especially those who earn less. Trump’s policies helped the poor in his first term, and they clearly will again.