Reported here in "Inflation-shocked low- and middle-income Americans may not spend normally for years":
“For a very large share of Americans, the bottom 60% are spending more on essentials than before the pandemic,” said Michael Pearce, Oxford Economics deputy chief U.S. economist. “The burden is hardest among the lowest income but also touches middle income. Spending patterns of low-income Americans will take years to recover.” ...
The last time low-income Americans’ discretionary spending fell this much, which was during the Global Financial Crisis of 2007-2008, it took five to 10 years for spending patterns to return to previous levels, he said.
“And the reason was gas prices fell,” Pearce said. Global oil prices fell by about 70% between 2014-16, which pushed pump prices sharply lower and helped low-income Americans catch up.
“It’s harder to see some revolutionary cost saving (like that) on the horizon,” he said.
Harder to see only if we continue with the green energy nonsense.
The opportunities are YUGE for Trump/Vance because ALL energy costs much more now.
It's not just gasoline. Get the government boot off the neck of fossil fuel producers and gasoline will come down, natural gas will come down, and electricity will come down.
Base energy from coal should be transitioned to nuclear, which works in cold weather and hot weather without fail just like coal, unlike natural gas, wind, and solar, which are fine where appropriate but not as base energy, the energy you must have when you need it when the sun doesn't shine, the wind doesn't blow, and the gas won't flow.
J. D. Vance knows:
