Gas is not at an all time high, but highest point of the year.
But, it is high because of the Iran situation.
And, I've said before, Trump is prone to hyperbole, and I also said the 5k thing was a dumb thing to say.
See. not that hard.
I think Trump deserves the blame for the Iran situation and the higher oil prices that followed. I can’t say with certainty how much of today’s sticky inflation comes from oil specifically, but I suspect oil is a large part of it. And if that’s right, he should share blame for the inflation too. (Biden wasn’t any better on that front.)
On bond yields I’m less confident. I don’t have the financial background to claim authoritatively that he has screwed them up. Yields have been rising around the world, not just in the US. My guess is that more than sticky inflation is at work. Rising debts and deficits are a bipartisan problem. I read online that the AI infrastructure and related corporate debts are also a factor. But his public pressure on the Fed is a bad look IMO.
On the plus side, I see lower, or at least more stable, taxes. And less of the “woke” philosophy working its way through institutions. We also needed a leader willing to talk tough to NATO so allies would carry more of their own weight. I think some political hardball on tariffs was overdue as well. I can see the logic in raising revenue through tariffs instead of income taxes. Philosophically I prefer taxing spending rather than earnings, and I think policy should encourage people to earn and save rather than spend on imported goods.
